While the industry has since slumped, CMA CGM emerged from the pandemic with far more diversified offerings, including adding air cargo through an investment in Air France KLM and bolstering its logistics capabilities. Shipping companies benefited from record transport rates during the pandemic, sending billions of dollars in dividends to their owners. The Saades’ empire has undergone a transformation following a period of unprecedented gains at closely held CMA CGM, where Rodolphe Saade is chief executive officer. He’s expected to remain with the transport company heading a regional office out of Lebanon, according to a person with knowledge of the matter, who asked not to be identified discussing personnel issues.Ī CMA CGM spokesperson declined to comment beyond a statement in December about Sirat relinquishing his role as CFO.
Joseph Dakkak, who previously helped run the family office, has resigned, according to a filing this week. Michel Sirat, 62, formerly chief financial officer at CMA CGM, the container-ship line controlled by the Saades, recently took over as head of Merit France, the firm that oversees the family’s fortune. Will you be able to rise to the top and catch the eye of these online casinos, or will you fall to the blades of your opponents? The choice is yours, but remember, only the strongest survive in this ruthless world of blood and glory.(Bloomberg) –The family office of the billionaire Saade shipping clan is rearranging top management as it deals with a pandemic windfall.
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