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CMA CGM has announced a reorganisation of its structure with the appointment of Ramon Fernandez as EVP and chief finance officer, replacing Michel Sirat who moves to head the family office.
The two will take up their new roles in the second quarter of next year.
According to CMA CGM chairman and CEO Rodolphe Saadé, the reorganisation is designed “to meet the increasing number of financial, strategic and development challenges” as the company grows.
Mr Fernandez will have a particular focus on cost control, financing and investor relations and his new role will include becoming a member of the executive committee of both CMA CGM Group and its logistics subsidiary, Ceva.
Mr Fernandez worked in France’s Treasury, before joining the International Monetary Fund in Washington. Back in France, he held a number of positions in the Ministry of Economy, Ministry of Labour and then became director general of the Treasury for six years from 2008. He returned to the private sector as EVP finance at Orange,
Mr Sirat will remain a member of the CMA CGM executive committee and head the merger & acquisition sector as well as the Family Office.
Like Mr Fernandez, Mr Sirat began his career at the French treasury department and the IMF in Washington, before returning to France and the treasury. He had roles in the energy industry in France, the US and Belgium before joining the liner operator in 2011 as chief financial officer.