CMA CGM SA billionaire CEO pushes back on French lawmakers new tax plan

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Written By Jennifer Joslyn

Chief Executive Officer Rodolphe Saade of shipping giant CMA CGM SA is slamming French lawmakers for their new tax proposal, meant to stifle inflation by raising taxes on corporate profits. Shipping rates have increased more than ten-fold during the pandemic and political pressure on the the world’s third-largest container carrier has increased along with it.

Saade conducted a two-hour testimony where he spoke of his company having “patriotic” French values and focuses of local hires. The tax itself proposes a 25% tax on energy and transport profits.

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Jennifer Joslyn
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