DP World chief quits after sexually explicit – Business News
Powerful Dubai businessman Sultan Ahmed bin Sulayem is stepping down as chairman and CEO of logistics giant DP World after his crude, sexually explicit emails with late financier and intercourse offender Jeffrey Epstein surfaced.
DP World, a $13.5 billion conglomerate that operates dozens of ports and terminals worldwide, confirmed the change in management — naming Essa Kazim as chair of the board and elevating longtime government Yuvraj Narayan to chief government, the Financial Times reported.
Sultan Ahmed bin Sulayem (left) stepped down from DP World after newly launched Justice Department information detailed years of correspondence with Jeffrey Epstein. through REUTERS
A press release from Dubai authorities asserting the appointments didn’t reference bin Sulayem straight.
But the large trove of Epstein information just lately launched by the US Department of Justice make clear his relationship with Epstein, together with e-mail exchanges that referenced sexual encounters and different personal issues.
In September 2015, Sulayem bragged to Epstein in an e-mail about bedding a overseas exchange scholar who was residing in Dubai, writing: “She got engaged but now she back with me … The best sex I ever had amazing body.”
The correspondence, which continued years after Epstein’s 2008 conviction for soliciting intercourse from a minor, additionally included crude sexual references and nude photographs.
While Sulayem has not been accused of a crime, main worldwide companions signaled they’d halt new business with DP World pending motion from the company.
The $13.5 billion logistics giant confirmed a management shake-up after worldwide companions paused new offers over its chairman’s ties to Epstein. through REUTERS
Emails show Sulayem mentioned visiting Epstein’s personal Caribbean island even after the financier’s 2008 conviction. through REUTERS
La Caisse, Canada’s second-largest pension fund — which has dedicated more than $5 billion alongside DP World over the previous decade — introduced it might droop further capital allocations.
In a assertion, the fund careworn the need to separate the company from Sulayem and stated it anticipated DP World to make clear the scenario and reply appropriately.
British International Investment, which companions with DP World on port tasks in Africa, issued a related message, stating it might chorus from new investments till the company had taken what it described as vital corrective steps.
DP World stated Friday the management modifications “support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.”
Nasdaq Dubai, the place DP World maintains listed bonds, stated Sulayem’s resignation was “effective immediately.”
Documents reveal the 2 males remained involved for years, exchanging messages that included sexual references and business discussions. REUTERS
The newest batch of Epstein paperwork have confirmed embarrassing for prime business and political figures who maintained ties with the creep even after his 2008 guilty plea.
Kathryn Ruemmler stated Thursday she would step down as chief legal officer at Goldman Sachs after newly disclosed emails confirmed she maintained a close personal relationship with Epstein, referring to him as “Uncle Jeffrey” and likening him to an “older brother.”
Former US Treasury Secretary Lawrence Summers exited a quantity of high-profile gigs after Epstein information confirmed him exchanging personal messages, together with requests for romantic advice and feedback broadly criticized as sexist, with the late financier.
Summers stated he was “deeply ashamed” of the connection.
