Former Thales Group CEO touted to take over CMA CGM

Time:2009-11-26 Browse:13 Author:RISINGSUN

DENIS RANQUE, former Thales Group CEO, has reportedly been tapped to take over troubled French shipping giant CMA CGM, reports London`s TradeWinds, citing WanSquare financial news service sources.
"Word of the management change comes nearly three weeks after CMA CGM founder Jacques Saade bristled at reports that creditors want to oust him as chief executive. In late October, he expressed astonishment at the news and said the French liner giant needs its management team intact," said the TradeWinds report.
Mr Ranque had been head of Thales Group, an arms manufacturer in suburban Paris, from 1998 until last May, though he still runs Thales Avionics as CEO, reported BusinessWeek.
There has been no comment from CMA CGM.