DP World CEO Sultan Ahmed bin Sulayem steps down after Epstein email disclosures ...Saudi Arabia

DUBAI — Sultan Ahmed bin Sulayem has stepped down as chair and chief executive of DP World following the publication of emails between him and convicted sex offender Jeffrey Epstein by the U.S. Department of Justice.His departure ends a four-decade tenure during which he transformed DP World from a port operator at Jebel Ali into a large logistics and container terminal companies.The disclosure of past correspondence with Epstein, however, prompted swift reactions from international partners and intensified calls for leadership change at the state-backed firm.In a statement issued Friday, the Government of Dubai confirmed a leadership reshuffle without directly referencing bin Sulayem’s exit.Veteran financial executive Essa Kazim was appointed chair of the board, while Yuvraj Narayan was named chief executive officer.The rapid transition underscores heightened sensitivity among sovereign-linked companies to reputational risk, particularly where controversies intersect with global financial markets and public pension funds.Pressure mounted after two major international partners announced pauses on new investments with DP World.La Caisse and British International Investment confirmed they would halt future deals with the company.DP World relies heavily on international capital partnerships to finance port expansions and logistics infrastructure.The company operates six ports in Canada and owns London Gateway in the United Kingdom, one of Europe’s fastest-growing container terminals.Investor withdrawals tied to governance concerns have become increasingly rapid, particularly when public funds are involved.Pension managers and development finance institutions often face domestic political pressure to distance themselves from controversies linked to high-profile misconduct cases.The release of documents related to Epstein has periodically renewed scrutiny of individuals who maintained contact with him before his 2019 arrest and death in custody.Bin Sulayem has long been one of Dubai’s most prominent business leaders. Under his leadership, DP World expanded its footprint across Asia, Europe, Africa and the Americas.The company has faced previous controversies. In 2022, its subsidiary P&O Ferries dismissed 800 UK-based workers and replaced them with agency crews, triggering political backlash and regulatory scrutiny in Britain.This latest crisis presents a different challenge, focused on governance oversight and reputational exposure rather than operational or labor issues.The leadership overhaul appears aimed at stabilizing investor confidence and limiting further fallout.Market reaction is likely to hinge on whether new management can reassure partners that corporate governance structures remain strong and insulated from personal controversies.For Dubai, where state-linked enterprises play a central role in economic strategy, maintaining international trust in flagship companies such as DP World is critical.

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Last updated : 13 February 2026 clock 03:56 PM

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DP World CEO Sultan Ahmed bin Sulayem steps down after Epstein email disclosures ...Saudi Arabia

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