The former chief executive officer of Maersk Line, Eivind Kolding, left his position as the head of Denmark's Danske Bank, according to local reports.
Kolding left Maersk in late 2011 to take a similar position with the bank, of which the A.P. Moller-Maersk Group is the largest single shareholder.
Kolding became renowned in the container shipping industry, not just for heading the biggest single operator between 2006 and 2011, but for unveiling a bold set of directives aimed at improving customer service. He was also said to be a driving force behind Maersk's heralded Daily Maersk service between Asia and Europe, a product that guaranteed total container transit time between key ports in the two regions.
Kolding, who has been replaced by former Maersk Tankers head, Soren Skou, also oversaw a dip in the container line's profitability during the global economic upheaval of 2008-2010. Maersk Line lost more than $2 billion in 2009, then recovered to earn a $2.8 billion profit in 2010, but slide to a nearly $500 million loss in 2011. With Skou at the helm in 2012, the line turn backed to profitability.
“We have entered a phase of transformation for the bank to become even more customer-oriented," Danske Bank Chairman Ole Andersen said. "At this time, the board wants both management and organisation to act quickly and efficiently in all matters, thereby ensuring increased competitiveness and profitability. The board of directors has assessed that, despite Eivind Kolding's many professional and human qualities, it is necessary at this point to bring in a managing director with stronger banking competencies. This is why we have appointed Thomas F. Borgen as new CEO." - Eric Johnson