Maersk Tankers, Damco Appoint New CEOs

Morten Engelstoft has been appointed CEO of Services & Other Shipping in Maersk. The appointment will have effect from January 1, 2014. In addition Morten Engelstoft will take over the position as CEO for Maersk Tankers, as Hanne B. Sørensen has been appointed CEO of Damco. The changes in Maersk Tankers and Damco will also be effective from January 1, 2014.

Services & Other Shipping consists of Damco, Maersk Tankers, Maersk Supply Service and Svitzer. The target for Services & Other Shipping is to reach $500 million in operational profit by 2016.

The four businesses in Services & Other Shipping will remain individual businesses with own CEO’s reporting to Morten Engelstoft, who will report directly to Group CEO Nils S. Andersen.

Morten Engelstoft also takes over the position as CEO of Maersk Tankers, as Hanne B. Sørensen leaves this position to become CEO of Damco replacing Rolf Habben-Jansen, who announced his departure in September 2013.

Søren Toft will replace Morten Engelstoft as COO of Maersk Line. Søren Toft joined Maersk in 1994 and has held several positions in the Group. He comes from a job as Head of Network Planning in Maersk Line. Prior to this he has held various positions in Operations both in Headquarters, Germany and Indonesia.