NOL names new CEO and CFO

SINGAPORE shipping firm Neptune Orient Lines (NOL), which has been taken over by French shipping company CMA CGM, has appointed a new chief executive officer and chief financial officer.

The new CEO is CMA CGM's group senior vice-president Nicolas Sartini, who takes over from Ng Yat Chung.

Mr Ng will remain on the board as an executive director and serve as special adviser to recently-appointed executive chairman Rodolphe Saade.

Mr Saade, who is CMA CGM vice-chairman, replaced former chairman Kwa Chong Seng last week. Mr Kwa will remain on the board as an independent director.

Mr Saade is the son of CMA CGM founder Jacques Saade. In a statement, he thanked Mr Kwa and Mr Ng for their contributions to NOL.

The new CEO and CFO appointments came as the NOL board, reconstituted last week, convened on Tuesday.

Meanwhile, CMA CGM vice-president of corporate control Serge Corbel has been appointed as NOL chief financial officer.