The CEO of Dubai-based DP World group, Sultan Ahmed Bin Sulayem, has resigned, following mounting pressure over alleged links to Jeffrey Epstein.
Bin Sulayem, one of the most prominent businessmen in the Middle East, is among the highest-ranking executives who have come under scrutiny and been removed from senior positions following the recent release of the Epstein dossier.
Reuters reports that the ruler of Dubai also issued a decree appointing a new president of the Dubai Ports, Customs and Free Zone Corporation, one of several positions previously held by Bin Sulayem.
Members of the US Congress said Bin Sulayem's name appeared in documents released by the US Justice Department, reopening questions about his past contacts with Epstein, a convicted sex offender. Reuters could not independently confirm the allegations in the files.
Pressure on the United Arab Emirates logistics company has been mounting after two organizations - Britain's development finance agency and Canada's second-largest pension fund - said this week they would suspend all new investments in DP World over Bin Sulayem's alleged ties to Epstein.
The British agency, British International Investment, welcomed DP World's decision and said it looked forward to continuing "the partnership to advance the development of key African trading ports."
Canada's La Caisse said in a statement that "the company has taken appropriate measures." It added that it would "work quickly with the new leadership of DP World to continue our partnership on port projects around the world."
DP World has appointed Esa Kazim as chairman of the board of directors and Yuvedra Narayan as group chief executive officer, the Dubai Media Office previously announced.
Kazim is currently the governor of the Dubai International Financial Centre (DIFC), while Narayan, who joined DP World in 2004 and was most recently deputy chief executive, has held several senior positions in the company.
Bin Sulayem's resignation follows the departures of other prominent figures in business and politics from top positions around the world, as the fallout from the dossier's release spreads.
Goldman Sachs' general counsel Cathy Rumler said she would resign this summer over her connections, the Financial Times reported, while at least three members of British Prime Minister Keir Starmer's administration resigned after the appointment of Peter Mandelson as ambassador to the US plunged the government into crisis.
Epstein's files, among millions of documents released by the US 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 Epstein and Bin Sulayem discussing business, sex and plans to visit Epstein's Caribbean island.
The documents reveal the late, disgraced financier's web of relationships with prominent figures in politics, finance, academia and business. Mere mention in the files is not evidence of criminal activity.
Epstein was found dead in a New York City jail cell, where he was being held on charges of human trafficking for the purpose of sexual exploitation, in August 2019. His death was ruled a suicide by hanging.
A prominent figure in Dubai's business district
Bin Sulayem, a prominent figure in Dubai and the wider Middle East, was one of the names associated with the emirate's growth into a regional hub for business and tourism.
Among his endeavors are the founding of Nakheel, the construction company behind Dubai's famous palm-shaped islands, as well as contributing to the creation of the DMCC commodities exchange.
A frequent speaker at the World Economic Forum and other global business gatherings, he is best known for overseeing the transformation of DP World into one of the world's largest port and logistics operators.
The company says it handles about 10 percent of global container traffic, with operations in countries including Canada, Peru, India and Angola.
DP World is also a sponsor of the leading professional golf tour in Europe, and from 2023 it is the logistics partner of the McLaren Formula 1 team, according to Reuters.
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