Subscribe to RSS feedSaade "incredulous" at reports of move to oust him
CMA CGM chairman and founder Jacques Saadé has reacted indignantly to a report that the group’s banks are seeking to oust him as the price of their participation in the restructuring of the company's $5.6bn debt.
News agency reports cited three "anonymous but knowledgeable sources" as saying that the banks had demanded that Mr Saad be replaced and the group’s board reconstituted as a condition of the restructuring.
The sources indicated that Mr Saad could be invited...
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