Following successful 36 years 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 Operations 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 of Maersk Line’s COO, which he held for seven years. 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 very positive growth 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 during 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’s 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.
