DP World appoints new chairman, CEO amid Epstein email fallout
DP World's longtime boss, Sultan Ahmed bin Sulayem, has resigned after US authorities revealed his emails with Jeffrey Epstein, which included explicit topics.
The company quickly named Essa Kazim as chairman and Yuvraj Narayan as CEO to steady the ship.
Major financial partners hit pause on investments
The scandal has put DP World under a harsh spotlight, with major financial partners like Canada's La Caisse and the UK's British International Investment pausing new investments with DP World until things are sorted out.
For a global logistics giant that relies on these partners for growth, that's a big deal.
New leadership steps in to steady the ship
Essa Kazim steps in as board chairman—he already leads Dubai's financial center—while Yuvraj Narayan, who has been at DP World for many years and served as Group Chief Financial Officer prior to his appointment as CEO, is now CEO.
Their main job: rebuild trust and keep business rolling.
Sulayem's departure marks end of an era for DP World
Sulayem turned DP World from a local port operator into an international player operating cargo terminals in ports around the globe.
His exit marks the end of an era—and leaves some big shoes to fill as the company tries to move forward.