Tuesday, November 5, 2013

Maersk Appoints New Division CEOs

Morten Engelstoft has been appointed CEO of Services & Other Shipping for Maersk, effective Jan. 1, 2014. Engelstoft will also take over the position as CEO for Maersk Tankers from Hanne Sørensen who has been appointed CEO of freight forwarding company Damco, also effective Jan. 1.

Maersk’s Services & Other Shipping division consists of Damco, Maersk Tankers, Maersk Supply Service and Svitzer. The four businesses are expected to remain individual companies with their own CEO’s reporting to Engelstoft, who will report to Maersk Group CEO Nils S. Andersen.

“As COO of Maersk Line Morten Engelstoft has been a key driver in the turnaround and in the reduction in the global network cost, which has been an important part in creating the past five quarters of positive results in Maersk Line,” Andersen said in a statement announcing the moves. “His task will now be to realize the full potential of the four businesses in Services & Other Shipping and together with the businesses CEO’s define a plan for future growth.”

In becoming CEO of Damco, Sørensen replaces Rolf Habben-Jansen, who announced his departure in September 2013. Søren Toft will replace Engelstoft as COO of Maersk Line. Toft joined Maersk in 1994 and has held several positions in the company, most recently Head of Network Planning with Maersk Line. Prior to this, he has held various positions in Maersk operations.