Maersk announces CEO transition

Søren Skou (L) will be succeeded as Maersk CEO by Vincent Clerc (R) on January 1

After 11 years at the helm of A. P. Møller – Mærsk A/S, Søren Skou will step down as CEO on January 1, 2023. He will be succeeded by Vincent Clerc, currently CEO of the company’s Ocean & Logistic business. Following the transition, the company’s executive board will consist of CEO Vincent Clerc, CFO Patrick Jany, Henriette Hallberg Thygesen and Navneet Kapoor.

“Søren has contributed to our group’s development over almost forty years, of which eleven years as CEO for Maersk Tankers, four years as CEO for Maersk Line and close to seven years as CEO for Maersk,” said Robert M. Uggla, chairman of the board of directors. “During his tenure as CEO of Maersk, Søren has been instrumental in redefining Maersk into a customer centric end-to-end logistics provider with a global leadership position in sustainable transportation solutions. On behalf of the board, I sincerely thank Søren for his valued leadership and impressive results. I am equally grateful for Søren’s support in the CEO succession review making sure the company does not lose any momentum in its strategic endeavors in a changing and difficult market.”

“The board is pleased to announce Vincent Clerc as the new CEO of Maersk,” said Uggla. “Since 2019, Vincent has been the CEO of Maersk Ocean & Logistics, which contributes a significant part of the company’s invested capital and results. He has been a pivotal leader for Maersk’s transformation, demonstrating great strategic acumen, an ability to execute complex plans and deliver long term shareholder value through compelling customer solutions. The strong tail winds that benefited the supply chain industries during the pandemic are coming to an end. With an increasingly challenging outlook, the board believes Vincent holds the right experience and capabilities as CEO to pursue and oversee Maersk’s strategic and organizational development in the years to come.”

CHANGE

“For almost seven years I have worked together with my team to change the business model, the culture, the digital backbone, and the results to make Maersk a profitable growth company again,” said Skou. “That was the mandate I got as CEO in 2016 and I would like to thank the board, our main shareholder, my executive team and all my fantastic global colleagues for their trust and support throughout the years.

“Now is the right time for Maersk, for Vincent, and for me to make this transition. The company has executed very well over the past years. We have never been stronger financially and we have an inspiring and visionary plan for the continuation of our global integrator strategy that will guide Maersk for many years to come.

“I have worked closely with Vincent for more than a decade and I am confident that he is ready to take the company to the next level. I look forward to a new chapter in life where I will continue to work at non-executive level and have more time for my family and for other interests.”

TOUGH CHALLENGES

“I am thrilled by the trust the board is showing by giving me the opportunity to lead the next stages of our transformation. It is a privilege for me to lead a company with such a long heritage, strong values, and tremendous potential,” said Clerc. “I am looking forward, together with the leadership team and all the Maersk colleagues around the world, to take it to the next level, building on the very strong foundation we obtained with Søren at the helm, and delivering on our promises to customers, shareholders, and to the society at large.

“On the heels of a pandemic, and now with the war in Ukraine and an energy crisis upon us, there are many tough challenges ahead; challenges that impact us all and where Maersk can make a difference. Companies are rethinking their supply chains in this new environment, they are looking for more stability, and more support on their decarbonization journey. This represents an incredible business opportunity for Maersk that we all are eager to seize.

“It will demand of us that we stay the course on our strategy, delivering on our digitalisation and decarbonisation roadmaps, while keeping a sharper than ever eye on our operational excellence and performance. When we do that, we will make a profound positive impact for all our stakeholders.”