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A.P. Moller-Maersk shakes up top executive lineup

The change follows the decision of Morten Engelstoft, executive board member and current CEO of APM Terminals, to retire after 36 successful years with A.P. Moller-Maersk.

The change in leadership will take effect July 1.

The past six years of Engelstoft’s career has been at the helm of APM Terminals, where he has led the company through a successful turnaround. Engelstoft hands over a business on a very positive performance trajectory which delivers attractive, stable, and high returns.

“I am confident, Henriette and Keith are the right team to leverage the momentum and lead APM Terminals on the next leg of the journey where our continued focus is on delivering on our automation strategy and on step-changing productivity in Gateway Terminals,” said Søren Skou, CEO, A.P. Moller–Maersk.

“I would like to thank Morten for his extraordinary achievements, dedication and leadership during all these years. He has played an instrumental role in the overall transformation of Maersk, the strengthening of the collaboration between Ocean and Terminals, and not least ensuring the very successful turnaround of our Terminals business leading up to the record-breaking results in 2021. I have truly appreciated having Morten in our Executive Board and I have enjoyed our partnership and close collaboration.”

Engelstoft became CEO of APM Terminals in 2016, coming from a position as CEO for APM Shipping Services and earlier COO in Maersk Line, and he was appointed member of the Executive Board in 2017.

“As I look forward to beginning a new chapter in my life, seeking a new balance and spending more time with my family, I am immensely proud to have been part of shaping Maersk during the past decades. We have built a strong foundation for APM Terminals, and the business is today well positioned in the industry and for the next chapter of our strategy. That is why timing is good for this change and in Keith we have a strong successor ready,” said Engelstoft.