The CEO of the maritime colossus defends public subsidies and the favorable tax regime: “We have invested 14 billion in the country, we maintain our headquarters in Marseille, in France we have 20 thousand employees and 1,000 seafarers and we reinvest 85% of profits”
Marseille – The head of CMA CGM, Rodolphe Saadé, was heard for over an hour and a half before the Economic Affairs Committee of the Assemblée Nationale, where he had to respond to criticism about the public subsidies and the favorable tax regime from which the group benefits, despite being a private company. The company, with 160 thousand employees, over 650 ships and 60 terminals in 183 countries, is a strategic pillar of the French economy. However, the deputies challenged the CEO on the fact that “a multinational and its owner pay proportionally less taxes than a neighborhood baker”. Saadé replied by recalling that CMA CGM employs 20,000 people on land in France, 1,000 seafarers and generates 55,000 indirect jobs, contributing to the country’s GDP growth. He stressed that the company maintains its headquarters in Marseille, generates 12% of its turnover and 13% of its cash in France and has reinvested 85% of its profits in the country.
The manager defended the “tonnage tax” regime, arguing that “it is a tax system suited to the cyclical nature of maritime transport” and that questioning it “would be a fatal blow to the competitiveness of the French fleet and to national sovereignty”. Also questioned about the State’s role in times of crisis – from the 2012 bailout with public entry into the capital, to the state guarantee during the pandemic – Saadé responded that the collaboration with the government “was decisive in supporting a strategic sector”.
The CEO then rejected accusations of “patriotic disengagement”, recalling the 14 billion euros invested in France in recent years and the decarbonization projects via LNG, which generate maritime and industrial employment. At the same time, he claimed the global nature of the group, which makes 20% of its turnover in the United States and about 3-4 billion dollars in annual investments overseas, explaining that “CMA CGM is an international player and follows its markets”. Saadé, born in Lebanon and moved to France at the age of 11, concluded his hearing by reaffirming his personal and corporate bond with the country: “In terms of patriotism, I believe we are doing our part. We can do more, but we have already demonstrated our commitment to France”.
