CMA CGM said the move was in accordance with the wishes of Rodolphe’s father Jacques Saadé who becomes founder chairman of the container line.
“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,” said Jacques Saadé.
“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.”
Underscoring the delivery of financial and operating results CMA CGM concurrently reported a $323m third quarter profit turning around from a $268m net loss in the same period in 2016. Revenues jumped 27.7% to $5.7bn in the third quarter.
The container line carried just under 5m teu in the third quarter handling 4.98m teu.
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