Dubai port giant DP World said on Friday its chairman and chief executive Sultan Ahmed Bin Sulayem had resigned, an announcement that followed mounting pressure over his alleged ties to Jeffrey Epstein.

Bin Sulayem, one of the Middle East’s most prominent business figures, is among the highest-profile executives to face scrutiny and be removed from senior roles following the recent release of the Epstein files, Reuters reported.

Dubai’s ruler on Friday also issued a decree appointing a new chairman for Dubai’s Ports, Customs and Free Zone Corporation, one of several roles previously held by Bin Sulayem.

Members of the U.S. Congress said Bin Sulayem’s name appeared in documents published by the U.S. Department of Justice, prompting renewed questions over his past interactions with Epstein, a convicted sex offender. Reuters was not able to independently verify the allegations in the files.

MOUNTING PRESSURE

Pressure had been building on the Emirati logistics firm after two organisations, the UK development finance agency and Canada’s second-largest pension fund, said this week they would suspend all new investment with DP World over Bin Sulayem’s alleged Epstein ties.

On Friday the UK agency, British International Investment, welcomed DP World’s decision and said it looked forward to continuing “our partnership to advance the development of key African trading ports”.

Canada’s La Caisse said in a statement that “the company took the appropriate measures”. It said it would “move quickly to work with DP World’s new leadership to continue our partnership on port projects around the world”.

DP World appointed Essa Kazim as chairman of its board of directors and Yuvraj Narayan as group chief executive officer, Dubai Media Office reported earlier.

Kazim currently serves as governor of the Dubai International Financial Centre, while Narayan, who joined DP World in 2004 and most recently served as deputy CEO, has held several senior roles in the company.

GLOBAL FALLOUT FROM EPSTEIN FILES

The resignation of Bin Sulayem follows the departure of other prominent figures in business and politics from top jobs across the globe as the fallout from the files expands.

Goldman Sachs (GS.N), opens new tab general counsel Kathy Ruemmler said she will resign this summer over the ties, the Financial Times reported on Thursday, while at least three members of British Prime Minister Keir Starmer’s administration stepped down after the appointment of Peter Mandelson as ambassador to the U.S. threw the government into crisis.

The Epstein files, among millions published by the U.S. 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 discussions between Epstein and Bin Sulayem about business, conversations about sex and plans to visit Epstein’s Caribbean island.

The documents show the late disgraced financier’s web of relationships with prominent people in politics, finance, academia and business. Being named in the files is not evidence of criminal activity.

Epstein was found dead in a New York jail cell where he was being held on sex-trafficking charges in August 2019. His death was ruled as suicide by hanging.

PROMINENT FIGURE IN BUSINESS HUB DUBAI

Bin Sulayem, a prominent figure in Dubai and the wider Middle East, was one of the names behind the emirate’s growth into the region’s business and tourism hub.

Some of his ventures included establishing Nakheel, the real estate developer behind Dubai’s famous palm-shaped islands, as well as contributing to the creation of commodities exchange DMCC.

A frequent speaker at the World Economic Forum and other global business gatherings, he most notably oversaw DP World’s transformation into one of the world’s largest port and logistics operators.

The company says it handles around 10% of global container traffic with operations spanning countries including Canada, Peru, India and Angola.

DP World also sponsors a leading professional golf tour in Europe and has been a logistics partner for McLaren’s Formula 1 racing team since 2023.

The U.S. is sending a second aircraft carrier to the Middle East amid tensions with Iran, U.S. media outlets reported late on Thursday.

The aircraft carrier USS Gerald R. Ford and its escort ships will be sent to the Middle East from the Caribbean, the New York Times, which first reported the news, said, citing U.S. officials, according to Reuters.

The White House and the Pentagon did not immediately respond to a Reuters request for comment outside of regular business hours.

Earlier this week, President Donald Trump had said he was considering sending a second aircraft carrier to the Middle East if a deal is not reached with Iran.

The first aircraft carrier, the USS Abraham Lincoln and several guided-missile destroyers arrived in the Middle East in January.

Trump said on Thursday the United States has to make a deal with Iran and suggested an agreement could be struck over the next month.

“We have to make a deal, otherwise it’s going to be very traumatic, very traumatic,” Trump told reporters.

Israeli Prime Minister Benjamin Netanyahu on Thursday said he hoped that Trump was creating the conditions to reach a deal with Iran that would avoid military action.

The UK development finance agency and Canada’s second-largest pension fund have suspended new investment with global ports operator DP World over alleged ties between its chief executive and the late disgraced financier Jeffrey Epstein, raising pressure on the Dubai-based firm.

Members of the U.S. Congress said DP World Chairman and CEO Sultan Ahmed bin Sulayem’s name appeared in the files, prompting renewed scrutiny of his past interactions with Epstein, a convicted sex offender, Reuters reported.

The documents, some of millions published by the U.S. Department of Justice and showing Epstein’s web of relationships with prominent people in politics, finance, academia and business, suggest a close relationship between the two men 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 discussions between the two men about business, conversations about sex and plans to visit Epstein’s Caribbean island.

Being named in the files is not evidence of criminal activity.

DP World declined to comment, while Bin Sulayem did not immediately respond to a request for comment sent to his LinkedIn account.

The UK development finance agency, British International Investment, said that it had paused new investments with DP World.

“We are shocked by the allegations emerging in the Epstein files regarding Sultan Ahmed bin Sulayem,” said a spokesperson for BII, which invests alongside DP World in four ports in Africa.

“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.”

Canadian pension fund La Caisse said in a statement it was “pausing additional capital deployment alongside the company” until DP World clarified the situation and took “the necessary actions”.

PROMINENT ROLE

Bin Sulayem, one of Dubai’s most influential businessmen, has led DP World through an expansion that has seen the company turn into one of the world’s largest logistics companies.

It says it handles around 10% of global trade, with operations spanning across the globe, including in Canada, Peru, India and Angola.

DP World also sponsors a leading professional golf tour in Europe and has been a logistics partner for McLaren’s Formula 1 racing team since 2023. Its logo can be seen on cricket players in South Africa and football players in Australia.

McLaren declined to comment on whether it was revisiting its relationship with the Emirati company.

Besides his role at DP World, Sulayem is listed as chairman of the Dubai International Chamber and the Dubai Ports, Customs and Free Zone Corporation, among others.

Some of Bin Sulayem’s other ventures include establishing Nakheel, the real estate developer behind Dubai’s famous palm-shaped islands, as well as contributing to the creation of commodities exchange DMCC, according to a bio on DP World’s website.