CMA CGM tightening the reins on Ceva Logistics
The CMA CGM Group is implementing a huge turnaround plan for Ceva Logistics after the friendly takeover bid, now holding 99.4% of Ceva's equity. Besides Rodolphe Saadé, chairman and CEO of the CMA CGM Group, who was elected chairman of the board of directors of Ceva Logistics in April this year, Nicolas Sartini became CEO on 1 June 2019.
A Ceva operations centre will be set up in Marseilles (France), bringing together Ceva's management teams and support functions, for a total of 200 employees. Located near the Group's head office, it will strengthen the operational management and control of the new affiliate.
Furthermore, the group announced in March 2019 a strengthened plan with a savings target of USD 1.2 billion. Since its launch, this plan has already achieved savings of USD 245 million. (kd)