DP World head resigns after Epstein’s revelations, Dubai government makes new appointment, know who becomes the new chairman…

Sultan Ahmed bin Sulayem, head of Dubai’s leading logistics company DP World, has resigned from his post following revelations of his links with sex offender Jeffrey Epstein. This move has increased the pressure on the company to take government action.

Let us tell you, Sulayem, who was the chairman and CEO of the company, left his post after the messages with Epstein were revealed. These messages discussed sexual experiences and the documents related to them were made public by the US Department of Justice (DoJ). The DoJ had released more than 3 million emails and documents related to Epstein, including those that named Sulayem.

Let us tell you, on Friday this week the Dubai Government announced that the new Chairman of the Board of DP World will be Esa Kazim and Yuvraj Narayan will be appointed CEO.

Let us tell you, after the documents released by DoJ in the last two weeks, Sulayem has joined the prominent officials who have resigned. The company’s two major international partners, Canada’s La Casse Pension Fund and Britain’s development finance arm, British International Investment (BII), said they would block any new deal with DP World until the company took necessary steps.

“We welcome DP World’s decision today and look forward to resuming our partnership in the future,” BII said.

DP World, which is ultimately controlled by Dubai’s ruling family, declined to comment on the matter since it was first reported by the FT. The documents released by the DoJ discuss sexual experiences between Sulayem and Epstein, as well as detail Sulayem’s role in organizing training for masseuses from Epstein’s “private spa.”

His relationship with Sulayem continued after Epstein was accused of soliciting sex from a minor in 2008. However, sources close to the company said that the ruling family probably took this step because they did not want to lose a business partner from their big state-owned international venture.

Sulayem contributed significantly to the transformation of DP World from a small port operator to one of the world’s largest logistics companies over four decades. The company has invested in several large infrastructure projects in Canada, Asia and Latin America and has also made its mark in the sports industry, such as with ventures in cricket and Formula 1, as well as sponsoring the European Golf Tour.

New Chairman Essa Kazim and CEO Yuvraj Narayan have been given important responsibilities towards the change in the leadership of the company. DP World said the experience of Kazim and Narayan will be beneficial to the company. Kazim, who is also Chair of Bourse Dubai and Governor of Dubai International Financial Centre, will make a significant contribution to the financial and economic affairs of the company. Narayan was previously the company’s CFO and Sulayem’s deputy.

Now it remains to be seen how DP World takes the company on a new path after the change in its leadership and how it re-establishes its reputation after these incidents.