Arcadia Said to Shut Dubai, Switzerland Offices Amid CEO Change
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Arcadia, the energy trader owned by billionaire John Fredriksen, is shutting its offices in Dubai and Switzerland, said three people with knowledge of the plans.
Some staff from the Swiss office in Nyon will be relocated to London and Singapore, according to the people, who asked not to be identified because they aren’t authorized to speak to the media. Arcadia has appointed Paul Adams as chief executive officer, replacing Peter Bosworth, the people said. Reuters reported Bosworth’s departure on March 28. Nobody responded to four phone calls and three e-mails to Arcadia’s London office or three calls to officials in Singapore.