DP World Chief Sultan Ahmed bin Sulayem Resigns Amid Escalating Epstein Scandal
Sultan Ahmed bin Sulayem, the long-standing Chairman and CEO of the global logistics giant DP World, has abruptly stepped down from his role following intensifying scrutiny over his personal ties to the late sex offender Jeffrey Epstein. The departure marks a significant shake-up for one of Dubai’s most strategic state-backed entities, ending Bin Sulayem’s decades-long tenure at the helm of the company.
The announcement was made on Friday by the Dubai government, confirming the immediate leadership transition. While the official statement did not explicitly detail the reasons for the exit, the move comes in the wake of mounting pressure from international financial partners. Earlier this week, two of DP World’s most critical investors—the Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) and the UK’s development finance institution, British International Investment (BII)—announced they were suspending future capital deployments with the logistics firm. Both organizations cited deep concerns regarding recently unearthed documents linking the executive to Epstein.
The controversy centers on a cache of emails and documents released by the U.S. Department of Justice, which revealed a sustained correspondence between Bin Sulayem and Epstein long after the financier’s 2008 conviction for soliciting prostitution from a minor. The communications reportedly included discussions on potential business deals as well as exchanges of a personal nature, continuing until shortly before Epstein’s arrest in 2019. These revelations sparked a crisis of confidence among Western institutional investors, who face strict compliance and ethical governance standards.
In the wake of Bin Sulayem’s exit, DP World has moved quickly to stabilize its leadership structure. Essa Kazim, the Governor of the Dubai International Financial Centre, has been appointed as the new Chairman of the Board. Concurrently, Yuvraj Narayan, who has served as the company’s Chief Financial Officer and Deputy CEO, has been promoted to Group Chief Executive Officer. Narayan is a veteran of the company and is expected to steer the operator through the current reputational turbulence while maintaining its operational strategy.
Bin Sulayem is widely credited with transforming DP World from a local port operator into a global supply chain powerhouse, with a portfolio that includes the Jebel Ali Port and P&O Ferries. His sudden departure underscores the far-reaching corporate fallout of the Epstein files, demonstrating that even top-tier executives in state-controlled enterprises are not immune to the reputational risks associated with the disgraced financier.
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