Global Ship Lease appointed Philippe Lemonnier to the company’s board of directors, increasing the board to seven members. Lemonnier was appointed by the existing board following his nomination by the company’s largest shareholder, CMA CGM.

Lemonnier currently serves as CMA CGM’s vice president of finance transformation, cost efficiency and transversal projects, having joined the company in 2005. He has more than 30 years of experience in finance and accounting, and has served in senior leadership roles across multiple industries, including as the CFO of two French telecommunications companies.

Michael Gross, chairman of the board of Global Ship Lease, commented, “We welcome the appointment of Philippe Lemonnier to our board of directors. As a senior executive at CMA CGM, our largest shareholder, our principal charterer and the world’s third largest liner company, we expect that Philippe’s expertise and guidance will be of great service to GSL at a time when the industry is poised for recovery.”

Global Ship Lease is a containership charter owner. It commenced operations in December 2007 with a business of owning and chartering out containerships under mainly long-term, fixed-rate charters to top tier container liner companies. The company currently owns 18 vessels with a total capacity of 82,312 TEU and an average age, weighted by TEU capacity, at August 31, 2017 of 12.7 years.