Dubai, February 13: Logistics giant DP World announced a sweeping leadership overhaul today, February 13, replacing its longtime chief, Sultan Ahmed bin Sulayem, following the public release of documents detailing his extensive relationship with the late American s*x offender Jeffrey Epstein. In a statement that avoided naming Sulayem directly, the company confirmed the appointment of Essa Kazim as Chairman and Yuvraj Narayan as Group CEO.

The transition follows intense pressure from international investors who paused billions in capital deployment after newly unredacted US Department of Justice files characterised Sulayem as one of Epstein's "most trusted friends". Epstein Files: Goldman Sachs’ Top Lawyer Kathy Ruemmler To Resign After Emails Show Close Ties to Jeffrey Epstein.

New Leadership Appointments at DP World

The board's immediate restructuring marks the end of an era for Sulayem, who had served as chairman since 2007 and CEO since 2016. His successors are veteran figures within the Dubai financial ecosystem:

  • Essa Kazim: The new Chairman previously served as the Governor of the Dubai International Financial Centre (DIFC) and Chairman of Borse Dubai.

  • Yuvraj Narayan: Taking over as Group CEO, Narayan has been a key executive at DP World since 2005, most recently serving as Deputy CEO and Chief Financial Officer.

A disclosure to the Nasdaq Dubai exchange stated that Sulayem's resignation was "effective immediately". The company affirmed that the new leadership would support "sustainable growth" and reinforce Dubai's position as a global logistics hub.

Impact of the Epstein Files

The leadership change was triggered by the release of a 13,500-page cache of documents by the US Department of Justice earlier this week. While Sulayem has not been accused of any criminal wrongdoing, the files revealed a years-long correspondence that continued well after Epstein’s 2008 conviction.

According to the records, Epstein referred to the Emirati businessman as a "close personal friend". The exchanges allegedly included business consultations, discussions on investments, and lewd content. One specific email from 2009, highlighted by US lawmakers, showed Epstein telling an unredacted recipient - later identified as Sulayem in court records - that he "loved the torture video," though the context of the video remains unclear. Epstein Files: Pam Bondi Clashes With Democrats As Attorney General Struggles To Turn Page on Jeffrey Epstein Files Furor (Watch Video).

Investor Pressure and Capital Freeze

The decision to replace Sulayem followed a swift backlash from DP World’s global partners. Major institutional investors signalled they would not continue business as usual while Sulayem remained at the helm:

  • La Caisse (CDPQ): Canada’s second-largest pension fund, which has invested over USD 8 billion with DP World, announced a pause on "additional capital deployment," stating it expected the company to "take the necessary actions."

  • British International Investment (BII): The UK’s development finance agency, an investor in several African port projects alongside DP World, also suspended new ventures, citing the "shocking allegations" emerging from the files.

Legacy and Economic Context

Sulayem is a member of one of Dubai’s most prominent families and was a central figure in the Emirate's economic rise. He oversaw the transformation of Jebel Ali Port into a global shipping powerhouse and led the expansion of DP World into an empire that now handles approximately 10 per cent of global container trade.

His departure marks a significant shift for the state-owned conglomerate as it attempts to insulate its global operations from the reputational fallout of the Epstein scandal. This video provides background on Sultan Ahmed bin Sulayem’s previous global business presence and his role in discussing international trade before his resignation.

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(The above story first appeared on LatestLY on Feb 13, 2026 06:23 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).