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AP Moller - Maersk splits in two: separating transport & logistics and energy

AP Moller - Maersk splits in two: separating transport & logistics and energy
AP Moller – Maersk is to split in two following a strategic review with one division focused on integrated transport and logistics, and another on energy.

The strategic review launched on 23 June after Nils Andersen was fired from the position of group ceo sees the main focus of AP Moller Maersk becoming that of being a transport and logistics company.

“Building on the group’s unique position within container transport and port operations, and significant position in supply chain management and freight forwarding, Transport & Logistics will leverage its leading position through new product offerings, digitalised services and individualised customer solutions,” AP Moller – Maersk said.

The transport and logistics group combines Maersk Line, APM Terminals, Damco, Svitzer and Maersk Container Industry as a single company with multiple brands.

Meanwhile AP Moller – Maersk’s oil related businesses will be separated into an energy division and the company noted that its oil related entities required different solutions either separately or combination with AP Moller – Maersk in the form of mergers, joint ventures or listings.

The energy division will consist of Maersk Oil, Maersk Drilling, Maersk Supply Service and Maersk Tankers.

“The industries in which we are operating are very different, and both face very different underlying fundamentals and competitive environments,” said Michael Pram Rasmusen, chairman of AP Moller – Maersk.

“Separating our transport and logistics businesses and our oil and oil related businesses into two independent divisions will enable both to focus on their respective markets.”

The new structure sees a management shake-up. Soren Skou will continue as group ceo of AP Moller – Maersk as well as ceo of the transport and logistics division. While current Maersk Drilling ceo Claus Hemmingsen will become vice-ceo of AP Moller - Maersk and ceo of the energy division.

APM Terminals ceo Kim Fejfer will be taking up a role related to AP Moller Holdings and will be replaced by Morten Englestoft, currently ceo of APM Shipping Services and Maersk Tankers. Maersk Oil ceo Jakob Bo Thomason will be leaving the group and replaced by Gretchen Watkins, currenly coo of Maersk Oil.

AP Moller – Maersk cfo Trond Westlie is also leaving and will be replaced by Jakob Stausholm.

“Both Energy and Transport & Logistics have strategies positioning them for growth and strategic agility,” said Skou.

“Transport & Logistics will be able to provide new and digitised world-class solutions for customers, while at the same time capture functional cost synergies and better utilization of existing assets.

Signaling possible further consolidation in the container sector the company said that Maersk Line would grow its market share through organic growth and acquisitions.

“Energy is well positioned to leverage Maersk Oil´s expertise and gain scale in select geographies, particularly in the North Sea. Its structural agility will enable management to pursue new and different structural solutions and investment.”