Orange Finance Head Fernandez to Join CMA CGM

French telecoms group Orange's deputy chief executive and head of finance, Ramon Fernandez, is leaving the company to join shipping and transport company CMA CGM as finance director.

Fernandez will Orange at the end of the first quarter of 2023, the company said on Tuesday, adding that a successor will be named soon.

French transport group CMA CGM said in a separate statement that Fernandez would start his new role at the start of the second quarter next year.

"I would like to thank Ramon for his unfailing commitment to the group," Orange CEO Christel Heydemann said in statement. "He has played an essential role in the development of the company over recent years, in particular through his work on efficiency and value creation.

"We will continue to work together and in confidence over the coming weeks to finalize our next strategic plan."

(Reuters - Reporting by Sudip Kar-Gupta Editing by Kirsten Donovan and David Goodman)