DP World, a major global logistics firm, has appointed a new Chairman and CEO, replacing Sultan Ahmed bin Sulayem, who had served as Chairman since 2007 and CEO since 2016. This leadership change follows decisions by financial groups in Canada and the UK to pause future collaborations with the company after Sulayem was mentioned in the Jeffrey Epstein Files.
Today, the company named Essa Kazim its new Chairman, following the U.S. Department of Justice’s latest release, which described Sulayem as a “close personal friend” of Epstein and, in other files, as one of Epstein’s most trusted friends.
Sulayem has not faced any criminal charges; however, pressure from DP World’s partners on Sulayem to resign increased after international partners urged the company to take the “required action.”
Canada’s second-largest pension fund, La Caisse, which has invested over $5 billion with DP World in the last decade, announced it would halt “additional capital deployment alongside the company.”
La Caisse said it was “important to distinguish the company, DP World, from the individual, Sultan Ahmed bin Sulayem, who is the focus of the current situation.”
British International Investment said it would also pause new investments. “In light of the allegations, we will not be making any new investments with DP World until the required actions have been taken by the company.”
DP World stated that the latest leadership change affirmed the company’s “strategy for sustainable growth” and reinforced its role in “strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.”
By CEO NA Editorial Staff
