In accordance with the agreements signed in November 2010 between CMA CGM[ds_preview] Group and the Turkish Yildirim Group, the shareholders of the French shipping company have approved a new governance organization. The board of directors now consists of Jacques R. Saadé, Rodolphe Saadé, Tanya Saadé-Zeenny, Farid T. Salem, Tristan Vieljeux, Denis Ranque and Christian Garin, as well as Robert Yüksel Yildirim, Evren Öztürk and Ercüment Erdem. Jacques R. Saadé was appointed as the Group’s Chairman and Chief Executive Officer. He will be backed by three Executive Officers, Rodolphe Saadé, Farid T. Salem and Philippe Soulié. The Yildirim Group earlier had bought a 20 % stake in the world’s third largest container company. Therefore, CMA CGM issued $ 500 million in redeemable bonds, all of which were subscribed by Yildirim.
