CMA CGM Appoins Rodolphe Saade as Chairman

Jacques Saadé, founder of the shipping company CMA CGM Group, now the world's third largest container company, has resigned as president. His son Rodolphe Saadé becomes CEO of a group.

News ID: 77455

Date: 25 November 2017 - 15:07

"In accordance with the wish of Jacques Saadé and after having reunited the positions of CEO and Chairman of the Board, the Board of Directors has decided to appoint Rodolphe Saadé to the position of Chairman of the Board and Chief Executive Officer of the CMA CGM Group, and Jacques Saadé Founder-Chairman," said a statement from the company, reported by MANA correspondent.

Jacques Saadé stated: “To prepare the future, last February 7th I appointed Rodolphe Saadé to the position of Chief Executive Officer. His strategy has delivered very good operational and financial results. The Group is strong. I am very confident in its future. That is why I have decided to entrust to Rodolphe the Chairmanship of the Group in addition to his current responsibilities as CEO. He has the full support of the Board of Directors, the management team and the 29 000 employees with whom he will pursue the development of the CMA CGM Group, to which I dedicated my entire life.”

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, declared: “My father’s decision is an historic one for our Group which became a key global player under his chairmanship. Jacques Saadé is both an extraordinary entrepreneur and visionary. I will pursue with determination the development of our group and strengthen its position as a leader.”