CEVA Logistics AG has appointed its new board of directors during an annual general meeting.
According to CEVA, one of the key resolutions of the AGM was the proposal to renew governance following CMA CGM’s successful completion of its public tender offer to acquire CEVA.
Rodolphe Saadé, chairman and chief executive officer of CMA CGM, has been elected as chairman of the CEVA board of directors. Rolf Watter will act as vice-chairman.
Marvin O. Schlanger, Victor Balli, Dr. Rosalind Rivaz and John F. Smith did not stand for re-election. Rolf Watter, Daniel Hurstel and Emanuel R. Pearlman were re-elected for a one-year term of office until the 2020 AGM.
Farid Salem, Michel Sirat and Béatrice de Clermont-Tonnerre have been elected as new board members.
The three independent directors are Rolf Watter, Manny Pearlman and Béatrice de Clermont-Tonnerre.
Nicolas Sartini, who is currently group chief operating officer and deputy CEO, has been appointed as CEO of CEVA from June 1, 2019. He will replace Xavier Urbain, who will become executive advisor to Rodolphe Saadé.
After the settlement of the public tender offer and taking into account additional shares CMA CGM has subsequently purchased in the market, it now holds more than 98% of the share capital and voting rights of CEVA.
CMA CGM will thus proceed with the squeeze-out procedure and will file a claim for cancellation of the remaining outstanding CEVA shares, according to CEVA.