French marine equipment group Navimo has named Albert Journo as the group’s new CEO to ‘conduct inevitable changes in strategy and policy’ resulting from the economic downturn.

Journo was appointed by majority shareholder Duke Street and Navimo’s board to replace Jean-Marie Paepegaey, effective immediately.

Navimo says that Journo will be in charge of making ‘inevitable’ changes to strategy and policy aiming at sustainable profitability and market leadership, reports IBI magazine.

Formerly president of a French employers’ federation and judge at a French commercial court, Journo, 53, is an experienced entrepreneur and CEO of global manufacturing mid-cap companies in industries including printing, engraving and the supply of tubes and valves to the oil industry.

The Navimo Group is Europe’s leading boat equipment manufacturer/supplier. Brands in the group include Plastimo, Accastillage Bernard, Max Power, Goïot, Lofrans, Nuova Rade, XM Yachting and DNS.