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Smedegaard was sent out in the cold by the Board

With the promotion of Maersk Line CEO Søren Skou to Group CEO, the conglomerate's Board of Directors sent Nils Smedegaard Andersen out in the cold after close to a decade as Chief Executive of the shipping and oil behemoth.

Photo: Jens Dresling/Polfoto/Ritzau Scanpix

The Maersk Group Board of Directors caught the industry off guard on Thursday with its decision to send Group CEO Nils Smedegaard Andersen out in the cold after close to a decade heading the Danish shipping and oil conglomerate.

His shoes will be filled by Søren Skou, current CEO of container carrier Maersk Line, the group's biggest business unit and the largest container carrier in the world.

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