UAE’s DP World names new leadership after CEO leaves over alleged Epstein ties

Jack Dutton

Feb 13, 2026

SYDNEY, AUSTRALIA - JANUARY 20: A general view of DP World Australia at Port Botany on January 20, 2024 in Sydney, Australia. The Guardian reported that workers at DP World have been involved in industrial action since October 2023. Actions include limited stop-work orders, as the union seeks a 16% pay increase over two years. The stevedore company manages some 40% of container traffic in Australia. A protracted industrial dispute would have severe knock-on effects on supply chains and businesses small and — A general view of DP World Australia's offices is pictured at Port Botany on Jan. 20, 2024 in Sydney, Australia. — Jenny Evans/Getty Images

Dubai-headquartered logistics giant DP World has appointed a new group chief executive, replacing Sultan Ahmed bin Sulayem, who left the company after his ties with convicted pedophile and sex offender Jeffrey Epstein were made public.

What happened: A statement from the Dubai government's media office on Friday announced the appointments of Yuvraj Narayan as group CEO and Essa Kazim as the new chairman of the board.

Narayan is an internal hire who served as DP World’s group chief financial officer since 2005. Kazim is currently governor of the Dubai International Financial Centre and chairman of Borse Dubai.

DP World's leadership shakeup comes after two of the company's biggest partners, Canada’s La Caisse pension fund and the UK’s development finance arm British International Investment, said this week they would suspend future deals with the UAE company. In a statement, BII, a $13.6 billion development finance institution owned by the British government, said this policy would remain in place “until the required actions have been taken by the company.”

In a statement on Friday, BII said it welcomed the decision by DP World and “looks forward to resuming our partnership.”

Quebec’s La Caisse is Canada's second-largest pension fund and holds a 45% stake in DP World Canada.

In a statement to Al-Monitor, a La Caisse spokesperson said, “The company took the appropriate measures. It has always been important to distinguish the company, DP World, from the individual, Sultan Ahmed bin Sulayem. We will move quickly to work with DP World’s new leadership to continue our partnership on port projects around the world.”

Why it matters: DP World, one of the world's largest global logistics firms, operates in more than 80 countries and has a significant presence across the Middle East, Asia and Europe. It reported record revenues of more than $20 billion in 2024 and controls around $49.7 billion in assets. Sulayem had led the Dubai-owned port operator since 2019.

The Friday statement did not mention Sulayem by name, but Epstein files recently released by the US Department of Justice reveal that the Emirati businessman and the convicted offender were close even after Epstein spent time in prison.

Epstein was first jailed in 2008 for procuring a minor for prostitution. According to the released DoJ files, bin Sulayem and Epstein’s relationship existed before after Epstein’s 2008 conviction and lasted more than a decade after it. Epstein faced federal charges of sex trafficking of minors and conspiracy to commit sex trafficking in 2019. In August that year, he died in prison in what was ruled as a suicide.

This developing story has been updated since initial publication.