ShippingWatch

These are the new APM Terminals CEO's biggest challenges

A slowdown in the global economy, prestige projects currently in the doldrums, and calls for cost reductions at the organization. Add to this the latest mega-purchase which APM Terminals is forced to scrutinize due to a bribery case. There is plenty of work ahead for APM Terminals' new CEO, Morten Engelstoft.

Photo: Maersk Tankers PR

"I'm looking forward to working with the team as we enter the next chapter where we will focus on increasing efficiency and the utilization of our terminal network," says Morten Engelstoft in a press release in which Maersk Group CEO Søren Skou as well as Chairman Michael Pram Rasmussen confirm their confidence in Morten Engelstoft's abilities as new Chief Executive of APM Terminals.

There are, however, visible challenges waiting for the new CEO when he on November 1st replaces Kim Fejfer, who has headed the conglomerate's port and terminal unit for 12 years. Engelstoft takes over the reins at a time when declining growth in the global trade has sidelined several of APM Terminals' prestige projects. And at a time when a corruption case against the seller of Spain's Grup TCB is forcing APM Terminals to scrutinize the entire transaction no more than a year after APM Terminals itself had to clean up in its executive team and fire three senior employees in relation to a case concerning bribes, or so-called facilitation payments.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk rejects shippers' complaint in USD 180m dispute

U Shippers has no case in a contractual dispute reported to the US Federal Maritime Commission, Maersk writes in a response to the FMC. Moreover, the case should not even be a matter for the commission, the company says.

Further reading

Related articles

Latest news

See all jobs