Rodolphe Saade to Succeed Father as CMA CGM Head

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Rodolphe Saade was appointed chief executive officer by container shipping group CMA CGM Wednesday, succeeding his father and company founder Jacques Saade.

Jacques Saade, 80, who established the firm in 1978 after leaving Lebanon, his country of birth, will retain his role of board chairman.

The appointment of Rodolphe Saade, previously vice chairman, as CEO crowns his rise in the group after he led negotiations in 2015 to buy Singapore's Neptune Orient Lines, a $2.4 billion deal that marked CMA CGM's biggest-ever acquisition.

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