UPDATE 1-DP World CFO stays in position, not joining Dubai World

Thu Dec 10, 2009 6:13am GMT

* Had been slated to join Dubai World prior to debt news

* DP World shares down 27 pct since Nov. 25

DUBAI, Dec 10 (Reuters) - DP World DPW.DI said on Thursday its chief financial officer (CFO) would remain in his position at the port operator and not join parent company Dubai World [DBWLD].

The firm had said on Oct. 27 its CFO would step down at its December board meeting and join Dubai World as group CFO as part of a general shuffle within the state-linked firm.

A shock announcement by Dubai on Nov. 25 that it sought a repayment freeze on $26 billion worth of debt at Dubai World, has since battered investor sentiment.

DP World's shares have fallen 27 percent since crisis started.

(Reporting by John Irish; Editing by Jon Loades-Carter)

((john.irish@reuters.com, +971 4 366 4248, Reuters Messaging: john.irish.reuters.com@reuters.net)) Keywords: DPWORLD CFO/

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