Now part of CMA CGM, NOL gets new leadership

Rodolphe Saadé, Vice-Chairman of CMA CGM, is now also Chairman of NOL Rodolphe Saadé, Vice-Chairman of CMA CGM, is now also Chairman of NOL

JUNE 14, 2016 — NOL is now part of the CMA CGM Group and is getting new leadership.

CMA CGM Group assumed control of NOL last Friday, and today NOL announced that its board, now chaired by Mr. Rodolphe Saadé, has named Mr. Nicolas Sartini as NOL Chief Executive Officer and Mr. Serge Corbel as NOL Chief Financial Officer.

Both executives, are also Executive Directors of the newly constituted 10-member NOL Board.The appointments came after the NOL Board of Directors, which was reconstituted on June 9, 2016, convened today.

Mr. Saadé, who is also the Vice Chairman of CMA CGM, succeeds Mr. Kwa Chong Seng who has served the NOL Board as Chairman for five years. Mr. Kwa will remain as an Independent Director on the Board.

Mr Sartini takes over the reins from Mr. Ng Yat Chung who has served as NOL Chief Executive Officer since 2011. Mr. Ng will continue as an Executive Director on the NOL Board and at the same time serve as special adviser to the Chairman.

"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," said Mr. Kwa. "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."

Mr 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."

"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," added Mr Saadé.

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