Dubai-based logistics giant DP World today announced a major change in its corporate leadership, appointing Yuvraj Narayan, Chief Financial Officer since 2005, as new Group Chief Executive, and Essa Kazim, Governor of the Dubai International Financial Centre, as new Chairman.
They replace Sultan Ahmed Bin Sulayem, the longtime Chairman and CEO, following detailed reports of the latter’s alleged close links with convicted sex offender Jeffrey Epstein.
Earlier this week, Quebec’s pension fund, La Caisse, and the UK development finance agency, indicated they were suspending any new investments in DP World pending clarification of the conduct of Sultan Sulayem.
Among its huge global operations, DP World operates terminals in Canada’s ports of Prince Rupert, Vancouver, Nanaimo, and Saint John and is closely involved as future operator of the Port of Montreal’s Contrecœur container terminal project under construction.
(Photos from DP World and Dubai International Financial Centre)