DP World replaces top executive after Epstein links

Dubai's government announced new DP World leaders after files linked the company's former head to Jeffrey Epstein; Quebec's Caisse de dépôt et placement suspended deal-making with DP World.

DP World announced a change in its top leadership after disclosures tied the company's former chairman to Jeffrey Epstein. The government of Dubai named Essa Kazim as chairman and Yuvraj Narayan as chief executive. Sultan Ahmed bin Sulayem was not mentioned in the statement, which implied he has left the company. Stakeholders, including Caisse de dépôt et placement du Québec, had expressed concern and paused deal-making with DP World. Key facts: - Dubai's government published a statement naming Essa Kazim as chairman and Yuvraj Narayan as CEO. - Sultan Ahmed bin Sulayem was not named in the statement; his departure was implied rather than explicitly described. - Files released by the U.S. Department of Justice are reported to show that Sulayem exchanged messages with Jeffrey Epstein about business and sexual matters after Epstein's 2008 conviction. - The pension fund Caisse de dépôt et placement du Québec suspended deal-making with DP World in response to the disclosures. Summary: The leadership change follows public disclosures and stakeholder pressure and has prompted at least one major investor to pause dealings with the company. Undetermined at this time.