Reuters: Shipping Giant Maersk Appoints Vincent Clerc as New CEO of the Group

(Image Source: Maersk)

On Monday, A.P. Moller - Maersk named industry veteran Vincent Clerc as the CEO of the company, effective January 1st, 2023. With freight prices in its main container shipping sector plummeting as a worldwide recession approaches, Vincent will be leading the firm through a period of declining container demand.

"The strong tail winds that benefited the supply chain industries during the pandemic are coming to an end. With an increasingly challenging outlook, the Board believes Vincent holds the right experience and capabilities as CEO to pursue and oversee Maersk’s strategic and organizational development in the years to come," said Chairman Robert Maersk Uggla regarding Vincent's appointment.

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Current CEO Soren Skou will be stepping down from his position after contributing to the organization's development for almost forty years. Since Soren became CEO in 2016, the shares of Maersk have approximately doubled. In 2017, under Soren's leadership, the company sold its oil and gas business to the French firm TotalEnergies as part of its transition from a conglomerate to an integrated logistics company.

Vincent, who is presently the CEO of the group's Ocean & Logistics business, has stated that he will prioritize cost-cutting measures as Maersk acquires warehouses and distribution centers to provide a whole transportation solution in addition to container shipping. Vincent emphasized the need to avoid excessive overhead expenditures while maintaining rapid expansion.

"I am looking forward, together with the leadership team and all the Maersk colleagues around the world, to take it to the next level, building on the very strong foundation we obtained with Soren at the helm, and delivering on our promises to customers, shareholders, and to the society at large," remarked Vincent.

Source: Maersk appoints new CEO to steer shipping firm through 'turbulence' to come

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