Yves Fargues, chairman and CEO of Gefco, has announced he will retire from the role on the 1st July. He will be replaced by Luc Nadal, currently freight transport and logistics director, who will take up the role of CEO of the Gefco Group.
Fargues was appointed chairman and CEO in April 2007, moving from his previous role as director of operations in China for parent company PSA Peugeot-Citroën.
He started his career with Renault before moving on to become managing director of Calberson International and then STVA, the freight division of French rail provider SNCF.
In January 2002, Fargues took charge of the operational division, Vehicle Preparation and Distribution, at Gefco.
Gefco's executive board met last week to propose Fargues be named a non-executive chairman.
Meanwhile, Nadal has been in his current role since September 2010 and moved there from his previous position as CEO at Fret SNCF and deputy CEO of the SNCF division Geodis. He was also previously chairman of the board at Naviland Cargo (formerly CNC) following a number of senior consultant positions.
His move to CEO of Gefco was also proposed at last week's meeting.
Gefco said that currently it did not have any further information on the moves and would not comment other than to state that Fargues had reached the required retirement age and "it was therefore up to him to decide whether or not to continue working."