CMA CGM’s Nicolas Sartini appointed new CEO of NOL

The new CEO of global container shipping business Neptune Orient Lines (NOL) has been named as Nicolas Sartini (right), with Serge Corbel becoming chief financial officer.

The appointments follow the reconstitution of the NOL Board after the company’s acquisition by CMA CGM and are aimed at delivering a successful integration. CMA CGM senior vice-president Sartini has replaced former chief executive Ng Yat Chung, and Corbel is also CMA CGM finance vice-president. Both are executive directors of the new 10-member NOL Board.

Ng Yat Chung, who has served as NOL CEO since 2011, will continue as an executive director on the NOL Board and at the same time serve as special adviser to the chairman. Former chairman Kwa Chong Seng, who held the role for five years, remains as an independent director on the Board.

The new chairman, Rodolphe Saadé, is also the vice chairman of CMA CGM.

Kwa said: “I am grateful for the invaluable insights gained from working with my esteemed fellow board members and the management team, and I would like to thank them for meeting the many challenges confronting the industry. Moving forward, NOL will benefit greatly from the depth and breadth of Rodolphe’s experience. His leadership will bring fresh perspectives to help navigate our container shipping line, APL, through uncharted waters ahead.”

Saadé said: “It is my privilege to be able to serve on the Board. I thank Chong Seng for his exceptional dedication and contributions to the NOL Group all these years. His stewardship laid the groundwork for APL to compete as a key ocean carrier with access to major trade lanes across the world. APL’s extensive global footprint will be a huge asset to us as we take the business forward as part of the CMA CGM Group.”

He added: “The NOL Group has the keen expertise and solid foundation which we will continue to build on. I would like to take this opportunity to thank Yat Chung who has led and steered APL through the numerous industry cycles. Together with Nicolas and Serge as well as my fellow Board members, I look forward to working closely with the management and staff of the NOL Group to lead APL to greater success in the future.”