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Published: 24 June 2016
Søren Skou to lead Maersk Group review
Søren Skou has been appointed the new CEO of Maersk Group and tasked with investigating “strategic and structural options” including a breakup of the current Maersk Group structure.
Today Maersk Group announced that Søren Skou will take up the position of Chief Executive Officer of A.P. Møller - Mærsk A/S, replacing Nils S. Andersen, from 1 July 2016.
The Maersk Board of Directors acknowledged Andersen's “dedicated and persistent contribution to A.P. Møller - Mærsk A/S since 2005” and said he had been a “driving force in building a focused and lean global conglomerate of five core businesses within shipping, logistics and energy”. However the Board now wants Søren Skou to lead a strategic review, while also retaining his current position as CEO of Maersk Line.
Maersk Group pointed out that since 2008 its has “successfully gone through a phase of operational optimisation in each of its businesses to the point of top quartile performance in most units”, but its share price has fallen over 40% in that period, despite selling off its banking and supermarket assets.
This is clearly a situation the company wants to address, and Maersk Chairman Michael Rasmussen is looking to Skou to drive reform: “Søren has strong business acumen and thorough knowledge of the Group's various businesses and has successfully restructured the businesses he has led. The Board of Directors knows Søren as a respected and knowledgeable leader with the ability to adapt quickly to market changes in close collaboration with the Board of Directors, the executive management and his employees," he said.
"I am excited about the opportunity to lead A.P. Møller — Mærsk into the next phase of our strategic development. The fast-paced changes of this world demand that we can adapt quickly, easily and at a minimal cost while retaining the focus on each Business Unit. Our future set-up must effectively respond to these challenges" says Søren Skou, CEO of Maersk Line.