Dubai-based ports giant DP World said on Friday that its chairman and chief executive, Sultan Ahmed Bin Sulayem, had stepped down, following mounting pressure over his alleged links to convicted sex offender Jeffrey Epstein.
Bin Sulayem, one of the Middle East’s most influential business leaders, is among the most senior executives to come under scrutiny after the recent release of files related to Epstein. His departure marks a significant leadership shift at one of the world’s largest logistics operators.
Investor Pressure Intensifies Over Allegations
The resignation comes after members of the US Congress said Bin Sulayem’s name appeared in documents released by the US Department of Justice. The disclosures prompted renewed questions about his past interactions with Epstein. Reuters said it could not independently verify the allegations contained in the files.
Pressure on DP World escalated this week when two major institutional partners, the UK development finance institution and Canada’s second-largest pension fund, announced they would suspend new investments in the company over the alleged ties.
On Friday, British International Investment welcomed the leadership change, saying it looked forward to continuing its partnership with DP World to support the development of key trading ports across Africa.
Canada’s La Caisse also signalled its approval, stating that the company had taken “the appropriate measures”. It added that it would work swiftly with DP World’s new leadership to advance port projects globally.
Separately, Dubai’s ruler issued a decree appointing a new chairman of Dubai’s Ports, Customs and Free Zone Corporation, a position previously held by Bin Sulayem, underscoring the scale of the reshuffle.
Earlier, the Dubai Media Office reported that DP World had appointed Essa Kazim as chairman of its board and Yuvraj Narayan as group chief executive officer. Kazim currently serves as governor of the Dubai International Financial Centre, while Narayan, who joined DP World in 2004, most recently held the role of deputy chief executive.
Who Is Sultan Ahmed Bin Sulayem?
At 70, Sultan Ahmed Bin Sulayem has long been a central figure in Dubai’s rise as a global trade and logistics powerhouse. As chairman and CEO of DP World, he oversaw a vast network of shipping terminals and free trade zones spanning the UK, India, Africa and beyond.
Born into a prominent Emirati family, Bin Sulayem maintained close ties to Dubai’s leadership. His father served as an adviser to the ruling Al Maktoum family, placing the family near the heart of the emirate’s political and economic establishment.
In the early 2000s, Bin Sulayem played a pivotal role in Dubai’s economic expansion. He helped transform Jebel Ali Port into a major deep-water shipping hub and previously led Nakheel, the developer behind the iconic Palm Jumeirah and “The World” artificial island projects.
A regular attendee at the annual meeting of the World Economic Forum in Davos, Bin Sulayem often represented Dubai’s commercial ambitions on the global stage, engaging with political and corporate leaders from around the world.
