Marseille-based container shipping company CMA CGM officially appointed Philippe Soulie as its new CEO on Monday (18 January).
Mr Souile is the former head of French construction group Cnim, the Journal of Commerce reported.
In the first meeting of CMA CGM's recently elected board, directors also named Jacques Saade chairman of the company he established in 1978.
Mr Saade agreed to loosen family control of the firm in December in order to gain a much-needed US$500m line of credit, due to be paid this month.
At the same meeting Farid Salem, Rodolphe Saade and Jean-Yves Schapiro were appointed executive directors.
After returning to operating profit in the fourth quarter of last year, the company, the world's third-largest shipping line, said it expects to see further improvements in revenue this year.
CMA CGM is negotiating with its 63 creditor banks in a bid to restructure its US$5.6bn debt, and is in talks with Asian shipbuilders in a bid to cancel or delay the delivery of 30 of the 45 vessels it has under order.
