A.P. Moller-Maersk calls on lager boss to lead group

A.P. Moller-Maersk calls on lager boss to lead group A.P. Moller-Maersk today announced a major management reshuffle at group level and among two leading subsidiaries, Maersk Line and APM Terminals.
   Group chief executive officer Jess S'derberg, who was planning to retire in 2009, will instead leave the company Dec. 1 when he will be replaced by Nils Smedegaard Andersen, CEO of Danish brewery Carlsberg. Andersen will then withdraw from the A.P. Moller-Maersk board of directors.
   S'derberg has been with the group since 1970 and served as group CEO since 1993 during which time he has overseen Maersk’s dominance of the container shipping sector with major purchases of Sea-Land at the turn of the century and P&O Nedlloyd in 2005.
   “In the period where Jess S'derberg has been responsible for the daily management, the company has grown considerably,” said Pram Rasmussen, board chairman. “In close cooperation with M'rsk Mc-Kinney M'ller, Jess S'derberg has been the driving force in making the A.P. Moller-Maersk Group the worldwide organization it is today.”
   Rasmussen said of S'derberg’s replacement: “Through his previous work Nils Smedegaard Andersen has gained as well as proven the skills which the board finds necessary in an ever-changing world, and in addition he possesses the personal qualities matching the values of the A.P. Moller-Maersk Group.”
   The Danish conglomerate posted a net profit of DKr 16.2 billion ($2.7 billion) in 2006, down 20 percent from 2005 after revenue of DKr264.8 billion ($44.5 billion), up 27 percent.
   Last year’s net result was compromised by heavy losses in its flagship container shipping and related activities segment, which posted a deficit of DKr3.4 billion ($568 million) due to a combination of stagnant container volumes, lower freight rates, higher costs and difficulties integrating P&O Nedlloyd.
   As part of the management reshuffle, Maersk Line will from July 1 no longer have a dual CEO leadership, as Knud E. Stubkj'r is leaving the group entirely, placing Eivind Kolding in sole charge.
   Philip Damas, research director at London-based Drewry Shipping Consultants, told American Shipper that Maersk Line would bounce back fairly soon. “This looks like a major shakeup, but we still expect Maersk to improve its profits this or next year and secure the synergies they are expecting from the P&O deal.”
   Tommy Thomsen is another managerial exit, as he has quits as CEO of APM Terminals, effective July 1. APM increased its profit in 2006 by 32 percent to $99 million and will now be lead by the group CEO.
   Meanwhile, from July 1, the following have been appointed as partners in A.P. Moller-Maersk:
   * Claus V. Hemmingsen, joined the company in 1981 and is responsible for Maersk Contractors, Maersk Supply Service and group IT.
   * S'ren Skou, with the group since 1983 and is responsible for Maersk Tankers, group oil trading, technical organization, group health safety and environment, and group security.
   * S'ren Thorup S'rensen, group chief financial officer since July 2006.