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The head of Dubai-based logistics group DP World has stepped down from his post as pressure mounts on the state-backed company to take action following revelations of its ties to sex offender Jeffrey Epstein.
The exit of Sultan Ahmed bin Sulayem as chairman and chief executive of the group followed the publication of messages including sexual experiences between him and Epstein, which were included in the US Justice Department’s release of documents relating to the disgraced financier.
Sulayem is one of the most high-powered officials to leave his post since the DoJ released more than 3 million additional emails and documents related to Epstein two weeks ago.
In a statement on Friday that did not mention Sulayem, the Dubai government announced that Essa Kazim had been named chairman of the board of DP World and Yuvraj Narayan as its chief executive officer.
The group’s two biggest international partners, Canada’s La Casse pension fund and UK’s development finance arm British International Investments, said this week they would put future deals with DP World on hold. The BII said the moratorium would continue “until necessary action is taken by the company”.
On Friday BII said that “we welcome DP World’s decision today” and “look forward to resuming our partnership”.
La Casse said DP World had taken “appropriate steps”, adding: “It has always been important to separate the company DP World from the individual Sultan Ahmed bin Sulayem. We look forward to working with the new leadership of DP World to continue our partnership on port projects.”
DP World, which is ultimately overseen by Dubai’s ruling family, had repeatedly declined to comment since the FT first reported this month on Sulayem’s interactions with the pedophile financier and sex trafficker.
The DoJ files detail messages from the two men about sexual experiences and Sulayem’s role in arranging training for “masseuses” from Epstein’s “private spa.”
It appears that the men exchanged images discussing people they had relationships with as well as sharing listings for escorts and massage services in different cities.
Sulayem’s relationship with Epstein continued long after the American financier served a prison sentence for soliciting a minor for sex in 2008.
But people close to the company said the ruling family may have been forced to take action due to the loss of a trading partner from one of their major state-backed international enterprises.
Neil Quilliam, associate fellow at Chatham House’s Middle East and North Africa programme, said such a change was “highly unusual”.
“Risk tolerance is very high in the UAE,” Quilliam said. “But I think when it comes to DP World, because commercially it is so important to the country and is part of its key state apparatus… it had to take this action immediately to manage its reputation.”
Sulayem was one of the most senior business figures in Dubai, helping to transform DP World from an operator at the emirate’s Jebel Ali port into one of the world’s largest logistics companies over four decades.
The company’s rise in many ways reflects Dubai’s emergence from a small Gulf state to a center of global commerce.
The group has six ports in Canada, as well as the fast-growing London Gateway logistics hub and infrastructure projects stretching from Asia to Latin America.
DP World has made significant efforts to promote its brand globally, sponsoring various ventures in cricket and Formula 1 as well as the European Tour of Golf.
As the owner of P&O Ferries, there was outrage in the UK in 2022 when the business sacked 800 staff and replaced them with cheaper agency workers.
DP World said the new chairman Kazim would bring “extensive experience in financial and economic matters”. He currently serves as the Chairman of Bourse Dubai and Governor of the Dubai International Financial Centre.
The new chief executive was Narayan, previously chief financial officer and Sulayem’s deputy.
