Agility dismisses reports on chairman resignation

Tarek Sultan remains at Middle East's largest logistics company.


Agility has dismissed a report in the Al-Qabas newspaper that its chairman and managing director Tarek Sultan is expected to resign from the company.

The story is the latest in a string of rumours about the logistics firm, following an announcement last week that it has asked the Kuwait Stock Exchange to suspend trading its shares and delay the release of its full-year 2009 financial results. The request was made "pending a determination about whether or not the company can resolve a legal dispute with the US government" over the alleged overcharging on US$8.5 billion worth of contracts.

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