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.

A.P. Moller – Maersk announces that Henriette Hallberg Thygesen, Executive Board Member, will be appointed as new Chair for APM Terminals, and Keith Svendsen, currently COO in APM Terminals, will be appointed CEO of APM Terminals. 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 from 1 July 2022.

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

”I am confident, that 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,”says Søren Skou, CEO of A.P. Moller – Maersk, and he adds:

“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”.

Robert M. Uggla, Chair of the Board of A.P. Moller – Maersk says:

“I sincerely thank Morten for his contributions in many different roles during his 36 years with our Group. Morten has been one of our most appreciated leaders with a strong sense for our company values and the safety of our employees. I have been fortunate to work closely with Morten during my own career and have benefited tremendously from his advice and insights. On behalf of the Board, I look forward to working with Henriette and Keith to continue APM Terminals’ promising development.”

Morten Engelstoft became CEO of APM Terminals in 2016, coming from a position as CEO for APM Shipping Services and earlier COOin 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”, says Morten Engelstoft.

Present in more than 40 countries with 75 terminals around the world, APM Terminals is playing a key role in ensuring undisrupted supply chains, with continuous focus on safety, operational performance and productivity to better serve its shipping and landside customers.APM Terminals will remain a separate financial segment in the business structure.

The Executive Leadership Team will hereafter consist of:

• Søren Skou, CEO of A.P. Moller – Maersk
• Caroline Pontoppidan, General Council & Head of Corporate Affairs, A.P. Moller – Maersk
• Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands, A.P. Moller – Maersk
• Navneet Kapoor, CTIO of A.P. Moller – Maersk
• Patrick Jany, CFO of A.P. Moller – Maersk
• Susana Elvira, Chief People Officer of A.P. Moller – Maersk
• Vincent Clerc, CEO of Ocean & Logistics, 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 APMT.

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.