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The head of Dubai-based logistics group DP World has left his post after revelations over his ties with sex offender Jeffrey Epstein piled pressure on the state-backed company to take action.
Sultan Ahmed bin Sulayem’s exit as the group’s chair and chief executive followed the publication of messages between him and Epstein, including about sexual experiences, which were included in the US Department of Justice’s release of documents related to the disgraced financier.
In a statement on Friday that did not mention Sulayem, the Dubai government announced that Essa Kazim had been named as chair of its board and Yuvraj Narayan as chief executive officer.
Two of DP World’s largest international partners, Canada’s La Caisse pension fund and the UK’s development finance arm British International Investment, said this week that they would halt future deals with the group.
BII said this week that it would “not be making any new investments with DP World until the required actions have been taken by the company”.
DP World, which is ultimately overseen by Dubai’s ruling family, had repeatedly declined to comment on the revelations about Sulayem’s relationship with Epstein.
But people close to the company said losing business partners from one of their flagship state-backed international ventures had probably forced the ruling family to act.
Sulayem was one of the most senior business figures in Dubai, helping transform DP World over four decades from an operator at the emirate’s Jebel Ali port into one of the world’s largest logistics companies.
The company’s rise in many ways mirrored Dubai’s own boom from a minor Gulf state into a centre of global commerce.
The group owns six ports in Canada, as well as the fast-growing London Gateway logistics hub and infrastructure projects stretching from Asia to Latin America.
DP World has made significant efforts to boost its brand globally, sponsoring golf’s European tour alongside various ventures in cricket and Formula 1.
As owner of P&O Ferries, DP World sparked outrage in the UK in 2022 when the business sacked 800 staff and replaced them with cheaper agency workers.
DP World said Kazim, the new chair, would bring “extensive experience in financial and economic affairs”. He currently serves as chair of Borse Dubai and as governor of the Dubai International Financial Centre.
Narayan, the new chief executive, was previously chief financial officer and Sulayem’s deputy.
