Dubai-based port operator DP World has replaced its longtime chairman following revelations of ties to convicted sex offender Jeffrey Epstein, sparking global scrutiny and prompting some international investors to pause dealings with the company.
Sultan Ahmed bin Sulayem, who had led DP World for decades, faced intense attention after the release of documents showing correspondence between him and Epstein, including lewd exchanges. DP World did not comment on bin Sulayem’s relationship with Epstein prior to his removal.
The Dubai Government Media Office (GMO) confirmed that Essa Kazim, governor of the Dubai International Financial Centre (DIFC), has been appointed as the new chairman, while Yuvraj Narayan, former Chief Financial Officer, assumes the role of Group CEO.
The management changes come amid investor caution. Canada’s second-largest pension fund, La Caisse in Quebec, said it would pause capital deployments with DP World, while Reuters reported that a British investment platform was also halting future investments. La Caisse stated it expects DP World to “shed light on the situation and take the necessary actions.”
Bin Sulayem, a prominent Emirati business figure, has frequently appeared alongside Dubai’s ruler and has been photographed with Donald Trump, highlighting his high-profile presence in international business circles.
The leadership shift aims to stabilize the company amid growing scrutiny and maintain confidence among global investors and partners.
Edgardo Hernal started college at UP Diliman and received his BA in Economics from San Sebastian College, Manila, and Masters in Information Systems Management from Keller Graduate School of Management of DeVry University in Oak Brook, IL. He has 25 years of copy editing and management experience at Thomson West, a subsidiary of Thomson Reuters.
- EDGARDO HERNAL
- EDGARDO HERNAL
- EDGARDO HERNAL
- EDGARDO HERNAL
