CMA CGM will reportedly undergo a big management reorganization, which involves cutting down the number executive board positions by four, according to Shipping Watch.
The company’s current board is comprised of eight people, including CEO Rudolphe Saade, whose late father Jacques Saade founded the company 40 years ago.
An internal statement from Saade, reportedly obtained by Shipping Watch, said: “I have the fullest confidence that this new organization will enhance our entrepreneurial spirit, make us more agile and take our efficiency and our performance to the next level.
Find out how CMA CGM is preparing for the future by reading a Port Technology technical paper
“It will also enable each department to innovate, take initiatives and contribute more assertively to the Group's development, while remaining faithful to our core values.”
The French container line, third biggest in the world, was the subject of intense rumours in July 2018 that it was in negotiations to merge with Hamburg-based Hapag-Lloyd, which the German company strenuously denied.
Port Technology International contacted CMA CGM regarding Shipping Watch’s report, but it declined to comment.
Read more:
-
CMA CGM has bought 10% stake in Port of Zeebrugge from COSCO
-
French container line reportedly approaches Hapag-Lloyd over proposed merger
