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Aramex restructures as nearshoring impacts volumes

Nicolas Sibuet is currently Aramex's Acting CEO (Source: Aramex)

Nearshoring of volumes from international to regional trade lanes impacted significantly on Aramex’s results in the first quarter of the year, prompting a major transformation programme to improve profitability.

The substantial commercial and operational effects from the nearshoring trend coincided with the arrival of Abu Dhabi’s sovereign wealth fund ADQ as majority shareholder and the subsequent departure of CEO Othman Al-Jeda last month.

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