DP World chairman and CEO Sultan Ahmed Bin Sulayem has resigned with 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.

Members of the U.S. Congress said Bin Sulayem's name appeared in documents published by the U.S. 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.

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.

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 Epstein files, among millions published by the U.S. 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 as suicide by hanging.

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.

(Reuters)