Dubai’s global ports giant has announced a sweeping leadership change following renewed scrutiny over past links between its former chief executive and convicted sex offender Jeffrey Epstein.
The company confirmed that Sultan Ahmed bin Sulayem has stepped down with immediate effect. Essa Kazim has been appointed chairman of the board, while Yuvraj Narayan takes over as Group Chief Executive Officer.
Leadership Shift at a Global Trade Powerhouse
Sulayem had served as chairman since 2007 and CEO since 2016. Under his leadership, DP World expanded aggressively, transforming Jebel Ali into one of the world’s most important deep-water ports and building a logistics network that handles roughly a tenth of global container trade.
The company’s statement announcing the changes did not reference Sulayem directly. Instead, it emphasized continuity, sustainable growth, and DP World’s role in strengthening global supply chains and reinforcing Dubai’s status as a leading trade hub.
A filing to Nasdaq Dubai confirmed Sulayem’s resignation was effective immediately.
What Triggered the Exit
The leadership reshuffle follows the U.S. Department of Justice’s release of additional files related to Epstein. Documents described Sulayem as a “close personal friend” of Epstein and referenced exchanges between the two after Epstein’s 2008 conviction for soliciting prostitution from a minor.
Authorities have clarified that appearing in the files does not constitute evidence of criminal wrongdoing or inclusion in any client list. Sulayem has not been accused of any crime.
However, the disclosures intensified external pressure.
Investor Reaction and Strategic Concerns
International partners began pausing new commitments. Canada’s La Caisse, which has invested over $5 billion alongside DP World, announced it would halt additional capital deployment pending clarification. British International Investment also signaled it would suspend new investments until “required actions” were taken.
The concern was reputational as much as operational. For infrastructure investors managing pension capital and sovereign funds, governance optics matter. The distinction between individual conduct and corporate structure may be legal, but markets react to perception.
By moving quickly, DP World appears to be drawing a clear line between the company’s long-term strategy and the controversy surrounding its former chief.
The New Leadership
Essa Kazim, previously governor of the Dubai International Financial Centre, brings regulatory and financial governance experience. Yuvraj Narayan, who has served as deputy CEO and CFO since 2005, represents internal continuity.
The combination signals stabilization rather than overhaul. Operational strategy remains intact. Management optics change.
A Defining Moment for Dubai Inc.
Sulayem is one of Dubai’s most prominent business figures, credited with helping scale the emirate’s maritime infrastructure into a global logistics empire. His exit marks a significant shift within Dubai’s state-linked corporate ecosystem.
For DP World, the priority now is restoring partner confidence and insulating operations from reputational spillover.
In global infrastructure, trust is capital.
Read more news, and follow us on Instagram
Sultan Ahmed Bin Sulayem of Dubai speaks at a news conference on Nov. 10, 2005, in New York City.
Mario Tama | Getty Images News | Getty Images
Source: CNBC
