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. (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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