DP World has announced a significant restructuring of its executive leadership. On Friday, February 13, the port and logistics giant confirmed the immediate resignation of its long-time Chairman and CEO, Sultan Ahmed bin Sulayem, amidst growing pressure from the investment community.
New Executive Appointments : DP World has named two seasoned leaders to its top posts:
- Essa Kazim (Chairman): A prominent figure in the Dubai financial community, Kazim has served as Governor of the Dubai International Financial Centre (DIFC) since 2014. He also holds the position of Deputy Chairman of the Supreme Legislation Committee in Dubai.
- Yuvraj Narayan (CEO): Previously the Group Deputy CEO and CFO, Narayan has been elevated to the Chief Executive role. A veteran of the company since 2004, he was instrumental in DP World’s rapid expansion, working closely with the former leadership during major acquisitions like P&O.
The leadership shuffle follows the release of documents from the U.S. Department of Justice revealing extensive personal ties between bin Sulayem and convicted sex offender Jeffrey Epstein. The documents indicated a relationship spanning over a decade, continuing even after Epstein’s 2009 conviction.
The revelations prompted immediate concern from key institutional partners.
- British International Investment (BII): Suspended investment activity earlier in the week.
- Caisse de depot et placement du Quebec (CDPQ): The Canadian pension fund and long-time investor paused additional capital deployment pending a response.
Both institutions have reportedly welcomed the swift action. BII stated it looks forward to continuing its partnership, while CDPQ confirmed it would work with the new leadership team.