Maersk, weighing a split, replaces its CEO




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.

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“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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