Biography Jacques R. Saadé |
|
Jacques R. Saadé
Founder of the CMA CGM Group and Chairman of the Executive Board, was born in Beirut, Lebanon in 1937.
A graduate of the London School of Economics, he took over the family business at his father’s death.
In 1978, with the war in Lebanon, Jacques Saadé moved to France, where he created the Compagnie Maritime d’Affrètement (CMA) in Marseille.
With extensive operations in Asia (particularly in China, beginning in 1989), CMA grew under Jacques Saadé’s leadership, becoming France’s largest shipping company in 1995.
|
|
|
|
|
In 1996, CMA acquired Compagnie Générale Maritime (CGM), which was being privatised at the time. The merger of the two companies was completed in 1999.
Jacques Saadé’s strategic focus on external growth was pursued with the acquisition of Australia National Line in 1998 and UK-based Mac Andrews in 2002.
Seeing the need for ships with even greater capacity, Jacques Saadé placed orders for 8,200-teu vessels in 2003 and 11,400-teu vessels in 2006.
In 2004, he decided to diversify into tourism and luxury cruises, acquiring a majority interest in Compagnie des Iles du Ponant, a luxury cruise operator, and Tapis Rouge, an upmarket tourism company.
With the acquisition of equity stakes in the Ports of Zeebrugge and Antwerp in 2005, Jacques Saadé reaffirmed his commitment to investing in port terminals, a strategy initiated with the Group’s takeover of the Malta terminal.
Also in 2005, CMA CGM entered a new phase in its development with the acquisition of Delmas, a shipping company operating lines to and from Africa.
2006 saw stepped-up investment in port terminals, notably in Tangiers, Lomé, Fos, Dunkirk and Houston, as well as developments in intermodal transport, with the creation of a joint venture with Veolia Transport and equity investments in rail networks in China, India and Algeria.
At the same time, Jacques Saadé strengthened the Group’s property assets in the United States and Turkey. Work on CMA CGM’s future headquarters in Marseille also began during the year.
Lastly, a joint company was created in partnership with IBM, reflecting Jacques Saadé’s commitment to developing ever-more efficient information systems to serve the Group’s customers.
In 2007, Jacques Saadé pursued his targeted external growth strategy. The acquisition of Taiwan’s Cheng Lie Navigation, Morocco’s Comanav and America's US Lines strengthened the Group’s position as a global operator.
Today, CMA CGM is the world’s third largest container shipping company, with a fleet of 387 ships serving 403 ports around the world. In 2007, the Group carried 7.7 million teu (twenty-foot equivalent units) and reported revenue of $11.8 billion. It operates in 150 countries around the world through a network of 650 agencies and 16,000 employees.
Jacques R. Saadé has been President of the Franco-Lebanese Chamber of Commerce since 1986. He is also an Officer in the Ordre du Cèdre and Chevalier de la Légion d’Honneur.
|
|
|
|
|
|
|