There's been a shake-up in APL's c-suite in the midst of parent CMA CGM's turnaround efforts.
After just 8 months on the job, APL chief executive Lars Kastrup is out and current CMA CGM Middle East senior vice president Stephane Courquin is set to take his place, effective 15 August.
Courquin will be charged with consolidating the subsidiary's long-haul shipping lines and developing business intra-Asia.
Kastrup, CMA CGM said in announcing the move Monday, has chosen to pursue another, unspecified opportunity.
In May, after posting a $43m firs quarter loss, CMA CGM announced a turnaround plan designed to save the boxship player $1.5bn.
As part of the plan, CMA CGM said it intends to operate under its own name in the Transatlantic, Asia-Europe, Asia-Mediterranean, Asia-Caribbean and Europe-India/Middle East trades, while APL will work in the Transpacific and Asia-India Subcontinent, plus continued US-flag services.
Courquin has been with CMA CGM since 2010, when he joined as vice president Africa, Indian Ocean and Oceania lines. In 2018 he took on his current role in the company's Middle East office.
Kastrup took the chief executive role in January after having served as president of APL USA and CMA CGM senior vice president in Asia.
