DP WORLD announced Monday it had replaced its Group chairman and CEO Sultan Ahmed bin Sulayem. The Dubai-based global logistics giant announced Essa Kazim as its new chairman and Yuvraj Narayan as Group CEO.
Sulayem’s abrupt exit follows the U.S. Department of Justice’s latest release of files related to Jeffrey Epstein, which revealed that the American financier, child sex offender and sex trafficker, once referred to Sulayem as a “close personal friend” and called him one of his most trusted friends in other files. DoJ records showed years of exchanges with Epstein.
Sulayem was at the helm of Dubai’s largest port operator as chairman since 2007 and CEO since 2016. A disclosure to Nasdaq Dubai, where DP World maintains listed bonds, said Sulayem had resigned “effective immediately”.
It is worth noting that DP World holds a massive global sports sponsorship portfolio, focusing on golf, cricket, and motorsports to drive brand visibility and highlight its logistics capabilities. Key partnerships include title sponsorship of the DP World Tour (formerly European Tour) until 2035, partnering with the ICC for cricket, and a title partnership with McLaren Formula 1 Team.
DP World affirmed that the new appointments “support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics”.
