• ITVI.USA
    15,868.670
    8.820
    0.1%
  • OTLT.USA
    2.774
    0.001
    0%
  • OTRI.USA
    21.470
    0.010
    0%
  • OTVI.USA
    15,873.680
    8.980
    0.1%
  • TSTOPVRPM.CHIATL
    2.960
    -0.660
    -18.2%
  • TSTOPVRPM.PHLCHI
    2.100
    -0.250
    -10.6%
  • TSTOPVRPM.DALLAX
    1.610
    0.250
    18.4%
  • TSTOPVRPM.LAXDAL
    3.340
    -0.130
    -3.7%
  • TSTOPVRPM.LAXSEA
    3.860
    -0.220
    -5.4%
  • TSTOPVRPM.ATLPHL
    3.520
    0.380
    12.1%
  • WAIT.USA
    126.000
    -2.000
    -1.6%
  • ITVI.USA
    15,868.670
    8.820
    0.1%
  • OTLT.USA
    2.774
    0.001
    0%
  • OTRI.USA
    21.470
    0.010
    0%
  • OTVI.USA
    15,873.680
    8.980
    0.1%
  • TSTOPVRPM.CHIATL
    2.960
    -0.660
    -18.2%
  • TSTOPVRPM.PHLCHI
    2.100
    -0.250
    -10.6%
  • TSTOPVRPM.DALLAX
    1.610
    0.250
    18.4%
  • TSTOPVRPM.LAXDAL
    3.340
    -0.130
    -3.7%
  • TSTOPVRPM.LAXSEA
    3.860
    -0.220
    -5.4%
  • TSTOPVRPM.ATLPHL
    3.520
    0.380
    12.1%
  • WAIT.USA
    126.000
    -2.000
    -1.6%
American Shipper

Schapiro to leave CMA CGM

Schapiro to leave CMA CGM

   Longtime CMA CGM executive Jean-Yves Schapiro is leaving the French line, Tradewinds reported earlier this week.

   Shapiro, chief financial officer for the line, will leave at the end of August to 'pursue a new challenge outside the shipping business,' the report said, quoting a company spokesperson.

Schapiro

   Other outlets characterized Schapiro's departure as a resignation.

   CMA CGM is embroiled with talks with a number of potential investors as it seeks outside equity for the first time in the company's history. Though its financial performance has improved substantially this year, the line suffered through a torrid 2009 and has outstanding debts of more than $5 billion as it seeks to finance one of the largest order books in the industry.

   Tradewinds reported it is nearing a deal for the French sovereign wealth fund FSI and another unnamed partner to become investors, while other news outlets said founder and chairman Jacques Saade recently broke off talks with a Qatari fund for similar investment.

   It is unknown whether these developments have any link to Schapiro's departure. CMA CGM has until the end of July to meet a deadline for outside investment.

   The line said it would announce when a replacement has been found.

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