Mærsk Vice CEO Steps Down! Energy Division To Close Down

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In a major development, Maersk has announced that their Energy Division head and Vice CEO Claus V. Hemmingsen will be stepping done by the end of June 2019, says an article published in Globe News Wire.

Brief From the Board of Directors

“On behalf of the Board of Directors, I would like to thank Claus Hemmingsen for his considerable results in fronting the separation of our oil and oil-related businesses, which he has done with the utmost respect for the history and legacy of the individual companies, while ensuring a foundation for their continued growth and prosperity outside A.P. Moller – Maersk,” says Jim Hageman Snabe, Chairman of the A.P. Moller – Maersk Board of Directors.

“I have known Claus since 1985. We joined the Executive Board together in 2007 and have been working closely together on the transformation of A.P. Moller – Maersk over the last two and a half years. I have truly appreciated our partnership and friendship. Claus embodies the values of A.P. Moller – Maersk and is an outstanding leader who has made many significant contributions to the company.,” states Søren Skou, CEO of A.P. Moller – Maersk.

Energy Division Closing Down

  • Hemmingsen who was also the  Vice CEO of A.P. Møller – Mærsk A/S (APMM) will leave the company having successfully concluded the separation of the oil and oil-related businesses from APMM.
  • The Energy division will close down at the same time.
  • Management (the Executive Board) will hereafter consist of CEO Søren Skou, CFO Carolina Dybeck Happe, Vincent Clerc, Søren Toft and Morten Engelstoft.

How Did the Energy Divison Fare?

The Energy division has since 2016 found new ownership structures for Maersk Tankers, Maersk Oil and Maersk Drilling focused on protecting the assets and capabilities of the businesses. Thus while strengthening the financial flexibility of A.P. Moller – Maersk and freeing up resources to focus future growth on container logistics, executing on USD 12bn worth of corporate transactions.

Why Is It Closing down?

“We have now concluded the task of finding new structural solutions for the majority of A.P. Moller – Maersk’s energy businesses, enabling their continued development and growth under new ownership structures. I am proud of the results the Energy division as a team and my colleagues in our oil and oil-related businesses have achieved,” says Claus Hemmingsen

How Hemmingsen Shaped Maersk?

  • Claus V. Hemmingsen joined APMM in 1981 as a shipping trainee.
  • He has over the years held various management positions including CEO of Maersk Drilling A/S.
  • In 2007 he became a member of the Executive Board and has been Vice CEO of APMM and CEO of the Energy division since 2016.

Hemmingsen’s Reactions

“I am privileged to have worked for A.P. Moller – Maersk for almost four decades. It has been an international career which has provided continuous challenges and endless learning opportunities across multiple industries, and the opportunity for my family to live abroad for 12 years. I am grateful to A.P. Moller – Maersk to whom I owe my entire career and to my family for their unlimited support. I wish Søren Skou and all my colleagues all the best with the continued transformation and development of A.P. Moller – Maersk”, said Hemmingsen

He will continue representing A.P. Moller – Maersk in his capacity as Vice CEO and CEO of the Energy division until he steps down.

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Source: Globe News Wire

 

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