CMA CGM announced on Tuesday an overhaul to its organisational structure that sees the French liner giant appoint a new chief financial officer (CFO) and moves the old one to run the owner’s private investments.

Ramon Fernandez, a former French government official and current senior executive at mobile phone company Orange, will become CFO at CMA CGM from the start of the second quarter of 2023.

“I am glad to begin a new adventure on the side of Rodolphe Saade at CMA CGM, a group in full strategic development,” Fernandez tweeted shortly after the announcement he is leaving Orange, where he served as deputy chief executive officer (CEO) for finance, performance and development and for Europe.