Shock for CMA CGM as a deputy CEO decides to quit

Air logistics veteran Peter Penseel has quit as deputy CEO of CMA CGM Air Cargo, leaving the newly formed airline without the backing of an air freight specialist.  

Mr Penseel is set to join Delta Cargo  as SVP and president, following the February departure of Rob Walpole, and will be based in Atlanta, a source told Loadstar Premium, which broke the story.  

Prior to joining CMA’s fledgling airline in January, Mr Penseel spent three years as airfreight COO at Ceva Logistics, prior to which he was SVP of cargo sales and network planning at Qatar Airways.

A source told The Loadstar Premium Mr Penseel’s departure would be a “huge loss” for CMA CGM, with the three-year-old airline left under the head of Damien Mazaudier, a CMA CGM veteran. He joined the airline in September last year, taking over from Guillaume Lathelize, who was there a year after taking over from Olivier Casanova, showing rather a high attrition rate at the carrier. Former Cathay executive Mark Sutch also had a very short stint at the airline.

The January appointment of highly experienced air cargo executive Mr Penseel, as deputy CEO of the airline, had set the French carrier up with the crucial component it needed for success. But the ‘deputy’ prefix to Mr Penseel’s title was somewhat contentious, given his extensive air freight knowledge. A source said the air cargo division was losing money, and “Peter’s job will be to turn things around”.  

CMA CGM stepped down from its agreement with Air France-KLM this month, and is planning to extend its network to the US.  

The Loadstar Premium wrote: “There’s a certain irony to the fact he was meant to help CMA CGM go stateside. But in fact, only he did…”