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DP World has announced the resignation of its chairman and chief executive Sultan Ahmed Bin Sulayem following growing pressure linked to documents associated with Jeffrey Epstein. The move came after major institutional partners paused new investments, citing concerns over the disclosures. Dubai's leadership also reshuffled key roles previously held by Bin Sulayem. DP World appointed Essa Kazim as chairman and Yuvraj Narayan as group CEO. The episode is part of a wider global fallout as prominent figures face scrutiny after the release of Epstein-related files.
Dubai-based ports and logistics major DP World confirmed that its chairman and chief executive, Sultan Ahmed Bin Sulayem, has resigned following sustained pressure linked to documents associated with Jeffrey Epstein. The decision came after questions resurfaced about Bin Sulayem's past interactions mentioned in files released by the US Department of Justice. Reuters could not independently verify the allegations referenced in those documents. Advertisement
The leadership change also coincided with a decree from Dubai's ruler appointing a new chairman to Dubai's Ports, Customs and Free Zone Corporation, a position that had been among several roles held by Bin Sulayem. He is one of the most prominent regional business figures to step aside as scrutiny intensifies following the release of the Epstein files.
Pressure on the company increased after two major institutional partners announced pauses on new investments. UK development finance institution British International Investment and Canada-based pension investor La Caisse said during the past week that they would suspend fresh commitments to DP World due to concerns linked to the disclosures. Following the resignation, the UK agency said it welcomed the move and expected to continue working with DP World on African port development. La Caisse stated that appropriate steps had been taken and indicated it would engage with the company's new leadership on ongoing global port projects.
DP World moved quickly to fill the leadership vacuum. Essa Kazim has been appointed chairman of the board, while Yuvraj Narayan has taken over as group chief executive officer. Kazim currently serves as governor of the Dubai International Financial Centre, and Narayan, who joined DP World in 2004, most recently served as deputy CEO after holding several senior positions within the group.
The developments form part of a broader global fallout from the Epstein-related documents. Several senior figures in business and politics have stepped down from high-profile roles as associations detailed in the files come under renewed examination. Media reports also pointed to resignations and political upheaval in the UK and the US linked to individuals named in the documents. Being referenced in the files does not in itself indicate criminal wrongdoing.
According to the published records, the documents suggest a long-standing relationship between Epstein and Bin Sulayem extending years beyond Epstein's 2008 conviction. The files include emails and messages that appear to show discussions on business matters, personal conversations and proposed visits to Epstein's private island. Epstein died in a New York jail in 2019 while awaiting trial on sex-trafficking charges, with authorities ruling his death a suicide.
Bin Sulayem has long been regarded as a key architect of Dubai's rise as a global business hub. He played a central role in establishing Nakheel, the developer behind the emirate's palm-shaped islands, and contributed to the formation of commodities exchange DMCC. He was also a regular presence at international forums such as the World Economic Forum, and led DP World's expansion into one of the world's largest port operators.
DP World says it handles about 10 percent of global container traffic, with operations across regions including India, Canada, Peru and Angola. Beyond ports and logistics, the group is active in global sports sponsorships, including partnerships in professional golf and its logistics tie-up with McLaren since 2023.
Source Reuters
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