Shareholder praises Maersk for quality boost – but criticizes chairman remuneration

A.P. Møller-Maersk has basically built a "stronger base business," says shareholder ATP. However, this does not prevent the Danish pension major from criticizing Chairman of the Board, Jim Hagemann Snabe's, pay-level, said the shareholder during Maersk's annual general meeting.

Photo: Matthias Schrader/AP/Ritzau Scanpix

Danish pension major and Maersk shareholder, ATP, sees a "fundamental quality boost in the operation of A.P. Møller-Maersk", said the pension fund's head of equities, Claus Wiinblad, at Maersk's Annual General Meeting, which, like last year, had gone virtual due to the coronavirus pandemic.

During a rather unusual 2020, with a tough start to the year, Maersk was able to see a particularly favorable development for both the company and its rivals in the container segment. Here, a red-hot market and sky-high freight rates led to large earnings and a strong cash flow, which have continued into the new year.

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