Maersk Vice CEO Steps Down After Energy Exit

Danish conglomerate A.P. Moller – Maersk informed that Claus V. Hemmingsen steps down as Vice CEO of the group. The company's energy division, which was headed by him, will also be shut down.

"The Energy division will close down latest by the end of June 2019, and Claus Hemmingsen will subsequently leave A.P. Moller – Maersk,  after nearly 40 years in service," said a company statement.

The Group has successfully concluded the separation of Maersk Tankers, Maersk Oil and Maersk Drilling as part of the transformation initiated in 2016 to focus A.P. Moller – Maersk on becoming the global integrator of container logistics.

The Board of Directors acknowledges Claus Hemmingsen’s dedicated and significant contribution to A.P. Moller - Maersk, where he has served as Member of the Executive Board since 2007 and as Vice CEO and CEO of the Energy division since September 2016.

“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.

Claus Hemmingsen joined A.P. Moller - Maersk in 1981 as a shipping trainee and has been stationed in Hong Kong, Singapore and Denmark, where he has held several leading positions within both the shipping and offshore industries. He was CEO for Maersk Drilling from 2005 and until his appointment as Vice CEO of A.P. Moller – Maersk and CEO of the Energy division.

“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.

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.

“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 and continues:

“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.”

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