Following the decision to separate A.P. Moller-Maersk’s businesses into two independent divisions, Transport & Logistics and Energy, the Danish shipping and oil conglomerate bared the changes to the executive management of the group’s portfolio of businesses.
The new CEO of APM Terminals will be Morten Engelstoft, currently CEO of APM Shipping Services and CEO of Maersk Tankers. Morten Engelstoft’s appointment is effective November 1, 2016.
Kim Fejfer, currently CEO of APM Terminals and executive board member in the Maersk group, will take up a new role related to A.P. Moller Holding A/S.
The new CEO of Maersk Oil will be Gretchen Watkins, current chief operating officer of Maersk Oil. Watkins will take up the role of CEO effective October 1.
Jakob Bo Thomasen has decided to leave after 27 years with the Maersk group, the last seven of which was as CEO of Maersk Oil.
Jorn Madsen has been appointed CEO of Maersk Drilling. Madsen is currently CEO of Maersk Supply Service, a role he has held since 2015. He will assume his new position after a new CEO of Maersk Supply Service is appointed.
Christian Ingerslev has been appointed CEO of Maersk Tankers, his appointment taking effect November 1. Ingerslev has since 2014 been CCO of Maersk Tankers.
A.P. Moller-Maersk in a statement released September 22 said it is dividing its portfolio of businesses into two independent divisions—an integrated transport & logistics division and an energy division.
Michael Pram Rasmussen, chairman of the board of A.P. Moller-Maersk, said the transport and oil industries operate under very different underlying fundamentals and in competitive environments.
“Separating our transport and logistics businesses and our oil and oil related businesses into two independent divisions will enable both to focus on their respective markets,” he added.
Transport & Logistics will consist of Maersk Line, APM Terminals, Damco, Svitzer, and Maersk Container Industry.
Energy will consist of Maersk Oil, Maersk Drilling, Maersk Supply Service, and Maersk Tankers.
Transport & Logistics will focus on “enhancing synergies” between its businesses, while Energy will “pursue individual strategic solutions” to ensure agility for its businesses, Maersk group said.
