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Jacques Saadé

From Alfawiki
Jacques Rodolphe Saadé
BornTemplate:Birth date
Beirut, Lebanon
DiedJune 24, 2018(2018-06-24) (aged 81)
OccupationEntrepreneur
Known forFounder and chairman of CMA CGM

Jacques Rodolphe Saadé (; 7 February 1937 – 24 June 2018) was a French-Lebanese billionaire entrepreneur, renowned as the founder and chairman of CMA CGM, which ranked as the fourth-largest container shipping enterprise worldwide by June 2020.

Biography

Saadé was born in Beirut, Lebanon, and spent his formative years in Syria. His father, Rodolph, was a Syrian businessman, while his mother, Odette Nauphal, hailed from Lebanon. After completing his studies at the London School of Economics in 1957, he inherited the family enterprise following his father’s passing; this business encompassed various manufacturing operations in Syria. Acting on his father’s counsel, Saadé undertook an internship in New York to gain insight into maritime shipping, where he encountered the container technology employed by the U.S. military during the Vietnam conflict—a breakthrough he identified as revolutionary for freight transportation.

The outbreak of war in Lebanon in 1978 compelled Saadé to move to Marseille, where he co-founded Compagnie maritime d’affrètement (CMA) alongside his brother Johnny. Initially, their shipping lines connected Marseille with Beirut and Syria. After internal family disagreements, Jacques assumed full control of the company.

By 1983, Saadé had broadened CMA’s shipping lanes through the Suez Canal to Mina-Qaboos in the Gulf of Oman, strategically positioning the firm for expansion into Asian markets. Recognizing Asia's burgeoning trade by 1986, CMA extended its services to this region and inaugurated its first office there in Shanghai in 1992 under the leadership of John Wang.

Following the privatization of CGM (Compagnie Générale Maritime) in 1996, Saadé acquired the company. CMA further expanded by purchasing the National Australian Line (ANL) in 1998 and merged with CGM in 1999 to establish CMA CGM Group. The takeover of DELMAS in 2006 propelled CMA CGM into becoming the third-largest global shipping group. Subsequent acquisitions in 2007 included Cheng Lie Navigation Ltd, U.S. Lines, and COMANAV.

Despite facing setbacks from the global shipping downturn triggered by the 2008 financial crisis, Saadé maintained his commitment to preserving the group's integrity. With support from his children Rodolphe and Tanya Saadé, he secured investment from Turkey’s YILDIRIM group in 2010 to finance new assets such as three 16,000 TEU vessels: CMA CGM Marco Polo, Alexander von Humboldt, and Jules Verne.

In 2011, CMA CGM established its headquarters in Marseille within the CMA CGM Tower designed by Zaha Hadid—making it the city’s largest employer with a workforce of 2,400. French President François Hollande officiated at the launch ceremonies for flagship ships Jules Verne (2013) and Bougainville (2015), highlighting CMA CGM’s importance to France.

In 2017, Saadé appointed his son Rodolphe as CEO and subsequently chairman; Jacques transitioned to founder chairman. At the time of his death in 2018, Forbes valued his fortune at €7 billion, placing him among the globe’s wealthiest individuals.

Notable achievements

  • He became president of the Franco-Lebanon Chamber of Commerce in 1986 and later served as its honorary president.
  • Between 2006 and 2010, he chaired the France-Ukraine committee.
  • In 2007, Saadé was honored as shipping's ‘Personality of the Year’ by Seatrade and received distinctions from both the Naval Academy (Manley-Bendall prize) and the Arab Academy for Science, Technology and Maritime Transport (Honorary Degree).
  • He was appointed an Officer of the French Legion of Honor in 2009.
  • In 2010, he took on the presidency of the France-Jordan Council of Business Leaders.
  • Containerization International awarded him their "Lifetime Achievement Award" in 2012.
  • In 2013, Saadé was granted honorary citizenship of Marseille alongside executives from companies such as Eurocopter, Orange, and Pernod Ricard.
  • The Lebanese American University bestowed upon him an honorary doctorate in 2014; that same year ASCAME recognized him for fostering economic growth and peace throughout the Mediterranean region.
  • He received promotion to Commander of the French Legion of Honor in 2015.

Environmental Commitments and Initiatives

Saadé stressed that the expansion of CMA CGM must be pursued with a conscientious approach to ecological issues, aiming to establish the company as a frontrunner in climate responsibility and marine conservation.

His receipt of the "Containerization International Lifetime Achievement Award" recognized his trailblazing efforts in adopting cutting-edge technologies designed to lower emissions and lessen environmental footprints.

During his tenure, CMA CGM prioritized investments in large vessels featuring state-of-the-art eco-friendly technologies. These efforts led to a 50% decrease in carbon emissions per container-kilometer across the owned fleet from 2007 to 2015, aligning with the company’s sustainability objectives.

On 1 June 2020, the container ship APL England, operated by CMA CGM & ANL (Singapore), experienced an accident where around 50 containers were lost at sea due to improper cargo loading. The Australian Marine Safety Authority fined the ship’s insurers $22 million to cover cleanup and remediation before permitting the vessel’s departure from Brisbane Port.

Family-Oriented Corporate Structure

Aymeric Dewimille highlighted that Jacques Saadé, with the backing of his son Rodolphe (Executive Officer) and daughter Tanya (communications head and Board member), exemplifies the core human values inherent in family-operated enterprises. This familial ethos has been instrumental to CMA CGM’s durability.

Analysts from Lloyd's List noted Jacques R. Saadé’s steadfastness during periods of crisis, effectively handling creditor relations, fleet management, and declining investors who could threaten company control. Their conclusion was that this strategy succeeded, enabling CMA CGM to regain profitability. The French financial newspaper Les Echos echoed this sentiment in 2011, emphasizing Saadé’s belief in the company’s endurance despite earlier financial setbacks.

While the board prefers leadership by family members, it acknowledges that a public offering might strengthen its asset base. Official discussions about an IPO began in 2013, with commitments that control would remain within the Saadé family.[1]

CMA CGM Key Metrics

Essential statistics (*TEUs: twenty-foot equivalent units)
CMA CGM 2016
Total revenue USD 16.0 billion
Containers transported 15.6 million TEUs*
Number of vessels 489
Fleet capacity 2.208 million TEUs
Global workforce Over 29,000
Employees in France 4,500
Global ranking 3rd

CMA CGM ranks as the third-largest container shipping enterprise worldwide and holds the top position in France. Its fleet of 489 ships connects more than 420 ports internationally, moving roughly 15.6 million TEUs in 2016. Operating in over 160 countries through a network of 775 offices, the group employs upwards of 29,000 personnel globally, including 4,500 based in France, generating revenues amounting to $16 billion that year.[2]

External links

  1. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named COSNARD
  2. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
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