APM Terminals appointed A.P. Moller Shipping Services Chief Executive Morten Engelstoft to succeed current CEO Kim Fejfer, who will be taking up a new role at APM Holding A/S, according to a statement from the company.
It appears the A.P. Moller-Maersk companies are wasting no time in shaking up senior management positions following yesterday’s announcement that the Danish shipping conglomerate would split into two separate divisions – one focused on transportation and logistics, and the other on the company’s energy businesses.
APM Terminals (APMT), Maersk’s terminal operator subsidiary, appointed A.P. Moller Shipping Services Chief Executive Morten Engelstoft to the position of chief executive officer, effective Nov. 1, the company said in a statement.
Engelstoft succeeds current APMT CEO Kim Fejfer, who will be taking up a new role at AP Møller Holding A/S, the investment arm of the A.P. Møller Foundation, which owns 41.51 percent of the parent group’s share capital and 51.23 percent of its votes.
Fejfer said the move to leave APMT after 12 years at the helm was a “tough decision,” but one he felt comfortable making with “the new group strategy in place and a very qualified successor available.”
A.P. Møller-Maersk A.S said Thursday it would steadily separate out its oil and gas subsidiaries – Maersk Oil, Maersk Drilling, Maersk Supply Services and Maersk Tankers – from the conglomerate over the next couple of years to focus on its core shipping services.
The result, according to a statement from the company, will be “an integrated transport and logistics company with digitalized and individualized customer solutions” that will include Maersk Line, the world’s largest container shipping company; APMT, the world’s third largest port terminal operator; forwarding and logistics business Damco; towing and salvage company Svitzer; and container manufacturer Maersk Container Industry.
“I feel the business will be in good and very capable hands,” said Fejfer.
“Morten Engelstoft has a strong track record of delivering results, deep operational experience and is an excellent people leader. I am confident that APM Terminals under Morten’s leadership will continue to thrive as one of the world´s largest terminal operators and successfully execute on APM Terminals’ priorities of costs, productivity and winning new third-party business,” added Søren Skou, CEO of A.P. Møller-Mærsk A/S.
Maersk shuffles top management in wake of split announcement
