Rodolphe Saade formally succeeds his father as chairman of CMA CGM

The ascension of Rodolphe Saade (pictured above) to the CMA CGM throne was completed at the end of last week after the French shipping line confirmed that his father, and the group’s founder, Jacques Saade (pictured below), had relinquished the chairman’s role to his son.

The move will effectively end Jacques Saade’s role with the group on an executive level and he will now go by the largely ceremonial title of founder-chairman.

Mr Saadé explained: “To prepare the future, on 7 February 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 chief executive.

“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 said: “My father’s decision is a 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.”