Dutch conglomerate A.P. Møller-Maersk A/S is “replacing its chief executive and considering splitting itself up,”
the
Wall Street Journal
reported.
Maersk is controlled by its founding family through a foundation, the report noted.
Søren Skou, the chief executive of Maersk's shipping business, will replace Nils S. Anderson as CEO. The company is suffering the effects of a major downturn in the shipping industry and plummeting oil prices, the article said.
The company is considering abandoning its holding-company structure. Companies in the group operate in shipping, energy, ports, oil-drilling services and other businesses, the
Journal
article said.
“The company's board determined Mr. Skou was best placed to potentially break up the company, given that he leads its biggest unit,” the report said. (Source:
Wall Street Journal
, June 24, 2016.)
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