New CEO Appointed for APM Terminals

Source: www.gulfoilandgas.com 4/4/2022, Location: Europe

Morten Engelstoft, current APM Terminals Chief Executive Officer, has decided to retire. He will be succeeded in the CEO role by current COO Keith Svendsen, with Henriette Hallberg Thygesen appointed as the company’s new Chairperson.

Following a successful 36 year career with A.P. Moller - Maersk, Morten Engelstoft has decided to retire from the company during summer 2022 and will consequently step down from his role as Chief Executive officer at APM Terminals. Succeeding him effective July 1st will be Keith Svendsen, who has been the company’s Chief Operating Officer since 2017.

“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’ve enjoyed our partnership and close collaboration,” shares Soren Skou, CEO of A.P. Moller – Maersk.

Morten Engelstoft joined Maersk in 1986 and he has served in many different roles in seven countries, including the position as CEO of Maersk Shipping Services and earlier COO of Maersk Line. In 2016, he became the CEO of APM Terminals, where he has led the company through a very successful turnaround, shaping it into a business with a positive performance trajectory which delivers attractive, stable, and high returns.

“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 over 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”, says Morten Engelstoft.

With APM Terminals as COO since 2017, Keith Svendsen has been a key driver of the company’s strategic direction. Prior to joining Terminals, he held several senior positions within Maersk Line, most recently as Vice President and Head of Operational Execution. “Together with the global leadership team and our engaged people across the globe, I look very much forward to keeping APM Terminals on the road to success and propelling us forward to become The World’s Best Terminal Company. Continuity is critical to maintain our transformation momentum and further deploy our ‘Safer, Better, Bigger’ strategy. My main focuses are on executing our strategy and constantly seeking new ways to serve our customers better, mature LEAN and find ways we can grow the company”, comments Keith Svendsen.

With Morten Engelstoft’s retirement, APM Terminals will be represented at A.P. Moller – Maersk Executive Board level by Henriette Hallberg Thygesen, who is at the same time appointed new Chairperson of APM Terminals, taking over that role from Soren Skou. Also, as of July 1, Henriette Hallberg Thygesen will take over from Morten Engelstoft as Executive Sponsor of Safety within A.P. Moller – Maersk.

Background of Henriette Hallberg Thygesen:
Executive Vice President Henriette Hallberg Thygesen (50) has been with A.P. Moller - Maersk since 1994 where she has held various senior positions in Spain, China, USA and Copenhagen for Svitzer, Maersk Tankers, Maersk Oil, Maersk Logistics/Damco. In addition to the role as Chair of APM Terminals, Henriette Hallberg Thygesen will also assume Executive Board responsibility for Safety & Resilience, which includes Crisis Management across A.P. Moller - Maersk.

Background of Keith Svendsen:
Keith Svendsen (49) has been with A.P. Moller - Maersk since 1990. Since 2017 he has been the Chief Operating Office in APM Terminals. Before that he held several senior positions in China, UK, Turkey, Denmark and The Netherland for Maersk Line, Maersk Logistics/Damco and APM Terminals.

Background of Morten Engelstoft:
Executive Vice President Morten Engelstoft (55) has been with A.P. Moller - Maersk for 36 years. Engelstoft has had a long tenure with Maersk Line and other brands, including postings in USA, Vietnam, Taiwan, Singapore and Italy. In 2007, he was appointed Chief Operating Officer for Maersk Line, a role he held until 2014 where he was appointed CEO of APM Shipping Services which included roles as CEO of Maersk Tankers. He became CEO of APM Terminals in 2016 and member of the Executive Board of A.P. Moller - Maersk in 2017.


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