DP World Appoints Yuvraj Narayan as New Group Chief Executive Officer
In a significant leadership shift, DP World, one of the world's largest logistics companies handling nearly 10% of global container trade, has appointed Indian-origin finance veteran Yuvraj Narayan as its new Group Chief Executive Officer. This move follows the exit of long-time chief Sultan Ahmed bin Sulayem, who departed amid controversy over his reported links to convicted financier Jeffrey Epstein. Concurrently, Essa Kazim has taken over as Chairman of the Board under a decree issued by Mohammed bin Rashid Al Maktoum, with Abdulla bin Damithan named as chairman of the Ports, Customs and Free Zone Corporation.
Yuvraj Narayan's Career and Achievements at DP World
A qualified chartered accountant, Yuvraj Narayan joined DP World in 2004 and was appointed Group Chief Financial Officer in 2005. Over nearly two decades, he has played a central role in the company's transformation from a regional port operator into a global end-to-end supply chain solutions provider. Narayan oversaw financial strategy, corporate finance, and supply chain integration, contributing to DP World's expansion to 79 countries, growth to more than 430 business entities, and a workforce exceeding 115,000 employees worldwide.
Under his leadership, the finance team was recognized as Finance Team of the Year in 2015, and Narayan himself has been named Middle East and North Africa CFO of the Year four times. He is credited with strengthening DP World's financial resilience and operational efficiency across economic cycles. Before joining DP World, he held senior roles at ANZ Group as head of corporate and project finance for South Asia and served as CFO at Salalah Port Services in Oman. Additionally, Narayan serves on the boards of HDFC International Life and Re Company Limited and Dubai Financial Market.
Context of Leadership Change and Controversy
The appointment comes as DP World navigates heightened scrutiny following the departure of Sultan Ahmed bin Sulayem. His exit was prompted by the release of newly declassified US Department of Justice documents, which revealed he had exchanged messages over several years with Jeffrey Epstein, including after Epstein's 2008 conviction for soliciting a minor for prostitution. The correspondence reportedly referenced business discussions and a visit to Epstein's private island, raising reputational concerns for DP World, although no criminal wrongdoing was alleged.
In the US House of Representatives, Congressman Ro Khanna identified bin Sulayem as one of several previously redacted individuals in the files, leading to partial unredaction by the Justice Department. This prompted British International Investment to pause future engagements with DP World, while Canada's pension fund La Caisse said it would suspend further investments pending clarity. Following Narayan's appointment, British International Investment welcomed the leadership change and signaled it would resume its partnership.
Future Outlook for DP World
In his new role as Group CEO, Yuvraj Narayan will oversee overall business operations and global supply chain management. DP World is expected to focus on restoring investor confidence while continuing its global expansion in ports, logistics, and supply chain services. The leadership overhaul aims to steer the company through this period of scrutiny and maintain its position as a key player in the global logistics industry.
