Sultan Ahmed Bin Sulayem, a top Middle East exec, faces scrutiny and ouster after Epstein files leak
DP World Chairman Sultan Ahmed bin Sulayem speaks during the Earthshot Prize Innovation Showcase at DP World Pavilion in Dubai, United Arab Emirates, February 10, 2022. FILE PHOTO: REUTERS
Dubai port giant DP World said on Friday its chairman and chief executive Sultan Ahmed Bin Sulayem had resigned, an announcement that followed mounting pressure over his alleged ties to Jeffrey Epstein.
Bin Sulayem, one of the Middle East’s most prominent business figures, is among the highest-profile executives to face scrutiny and be removed from senior roles following the recent release of the Epstein files.
Dubai’s ruler on Friday also issued a decree appointing a new chairman for Dubai’s Ports, Customs and Free Zone Corporation, one of several roles previously held by Bin Sulayem.
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Members of the United States Congress said Bin Sulayem’s name appeared in documents published by the US Department of Justice, prompting renewed questions over his past interactions with Epstein, a convicted sex offender. Reuters was not able to independently verify the allegations in the files.
Mounting Pressure
Pressure had been building on the Emirati logistics firm after two organisations — the UK development finance agency and Canada’s second-largest pension fund — said this week they would suspend all new investment with DP World over Bin Sulayem’s alleged Epstein ties.
On Friday, the UK agency, British International Investment, welcomed DP World’s decision and said it looked forward to continuing “our partnership to advance the development of key African trading ports”.
Canada’s La Caisse said in a statement that “the company took the appropriate measures”. It said it would “move quickly to work with DP World’s new leadership to continue our partnership on port projects around the world”.
DP World appointed Essa Kazim as chairman of its board of directors and Yuvraj Narayan as group chief executive officer, Dubai Media Office reported earlier.
Kazim currently serves as governor of the Dubai International Financial Centre, while Narayan, who joined DP World in 2004 and most recently served as deputy CEO, has held several senior roles in the company.
Global fallout from Epstein files
The resignation of Bin Sulayem follows the departure of other prominent figures in business and politics from top jobs across the globe as the fallout from the files expands.
The corporate logo of DP World is seen at Jebel Ali Port in Dubai, United Arab Emirates, December 27, 2018. Picture taken December 27, 2018. FILE PHOTO: REUTERS
Goldman Sachs general counsel Kathy Ruemmler said she will resign this summer over the ties, the Financial Times reported on Thursday, while at least three members of British Prime Minister Keir Starmer’s administration stepped down after the appointment of Peter Mandelson as ambassador to the US threw the government into crisis.
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The Epstein files, among millions published by the US Department of Justice, suggest a close relationship with Bin Sulayem for more than a decade after Epstein’s conviction in 2008 on prostitution charges involving an underage girl.
The documents include emails and text messages that appear to show discussions between Epstein and Bin Sulayem about business, conversations about sex and plans to visit Epstein’s Caribbean island.
The documents show the late disgraced financier’s web of relationships with prominent people in politics, finance, academia and business. Being named in the files is not evidence of criminal activity.
Epstein was found dead in a New York jail cell where he was being held on sex-trafficking charges in August 2019. His death was ruled a suicide by hanging.
Prominent figure in business hub in Dubai
Bin Sulayem, a prominent figure in Dubai and the wider Middle East, was one of the names behind the emirate’s growth into the region’s business and tourism hub.
Some of his ventures included establishing Nakheel, the real estate developer behind Dubai’s famous palm-shaped islands, as well as contributing to the creation of commodities exchange DMCC.
A frequent speaker at the World Economic Forum and other global business gatherings, he most notably oversaw DP World’s transformation into one of the world’s largest port and logistics operators.
The company says it handles around 10% of global container traffic, with operations spanning countries, including Canada, Peru, India and Angola.
DP World also sponsors a leading professional golf tour in Europe and has been a logistics partner for McLaren’s Formula 1 racing team since 2023.
