A.P. Moller-Maersk has appointed Morten Engelstoft to chief executive officer of Services and Other Shipping.
In addition, Engelstoft will take over the position of CEO for Maersk Tankers, while Hanne B. Sørensen, who formerly held this role, will become CEO of Damco. The changes at Maersk Tankers and Damco take effect Jan. 1.
Services and Other Shipping consists of Damco, Maersk Tankers, Maersk Supply Service and Svitzer. The target for Services and Other Shipping is to reach $500 million in operational profit by 2016, the company said.
Engelstoft was formerly chief operating officer of Maersk Line, while Sørensen most recently headed Maersk Tankers. Sørensen replaces Rolf Habben-Jansen at Damco, who announced his departure in September.
Søren Toft will replace Engelstoft as COO of Maersk Line. He joined Maersk in 1994 and has held several positions in the group, including most recently as head of network planning at Maersk Line.