Sri Lanka
USA
Canada
India
UK
UAE
Dubai-based global port operator DP World has announced new leadership appointments after revelations emerged about former CEO Sultan Ahmed bin Sulayem’s past association with convicted sex offender Jeffrey Epstein.
Dubai’s DP World has appointed Essa Kazim as the new chairman of its board of directors and Yuvraj Narayan as the group chief executive officer, replacing Sultan Ahmed bin Sulayem, the company announced in a statement.
Sulayem had served as chairman since 2007 and chief executive officer since 2016, overseeing the expansion of Dubai’s largest port operator into a global logistics empire handling nearly a tenth of the world’s container trade. His resignation was disclosed to Nasdaq Dubai, where DP World has listed bonds, and took effect immediately.
The leadership change followed the public release of U.S. Department of Justice files related to Jeffrey Epstein, which revealed years of communication between Sulayem and the late financier. Epstein had described Sulayem as a “close personal friend” in the documents. However, Sulayem has not been accused of any criminal wrongdoing, and authorities have stressed that being mentioned in the files does not imply guilt or involvement in illegal activities.
DP World’s statement did not directly reference Sulayem but noted that the new appointments align with the company’s strategy for sustainable growth and its role in strengthening global supply chains and Dubai’s status as a leading global trade hub.
International partners have reportedly paused new investments in DP World amid the controversy. Canada’s pension fund La Caisse stated it would halt additional capital deployment until the company clarified the situation and took necessary actions. British International Investment also said it would suspend new investments pending further developments.
Essa Kazim previously served as the governor of the Dubai International Financial Centre (DIFC), while Yuvraj Narayan had been DP World’s deputy CEO and chief financial officer since 2005. Sulayem, a prominent Emirati business figure, played a key role in transforming Dubai into a major global economic hub and previously led major infrastructure and real estate projects in the emirate.
