A.P. Moller - Maersk has completed the demerger of its Maersk Tankers, Maersk Oil and Maersk Drilling units.

According to Maersk, Claus V. Hemmingsen will step down as vice CEO of A.P. Moller - Maersk and CEO of the Energy division. He will continue in his capacity until the Energy division closes by the end of June 2019 and then leave the company.

Hemmingsen has served as a member of the executive board at A.P. Moller - Maersk since 2007, and as vice CEO and CEO of the Energy division since September 2016.

“On behalf of the board of directors, I would like to thank Claus Hemmingsen for his considerable results in fronting the separation of our oil and oil-related businesses, which he has done with the utmost respect for the history and legacy of the individual companies, while ensuring a foundation for their continued growth and prosperity outside A.P. Moller - Maersk,” said Jim Hageman Snabe, chairman of the board of directors at A.P. Moller - Maersk.

The Energy division has found new ownership structures for Maersk Tankers, Maersk Oil and Maersk Drilling that are focused on protecting the assets and capabilities of the businesses. The demerger also strengthens the financial flexibility of A.P. Moller - Maersk and frees up resources to focus future growth on container logistics.

“We have now concluded the task of finding new structural solutions for the majority of A.P. Moller - Maersk’s energy businesses, enabling their continued development and growth under new ownership structures,” said Hemmingsen. “I am proud of the results the Energy division as a team and my colleagues in our oil and oil-related businesses have achieved. I am privileged to have worked for A.P. Moller - Maersk for almost four decades. It has been an international career which has provided continuous challenges and endless learning opportunities across multiple industries, and the opportunity for my family to live abroad for 12 years. I am grateful to A.P. Moller - Maersk to whom I owe my entire career and to my family for their unlimited support. I wish Søren Skou and all my colleagues all the best with the continued transformation and development of A.P. Moller - Maersk.”

Hemmingsen joined A.P. Moller - Maersk in 1981 as a shipping trainee and has been stationed in Hong Kong, Singapore and Denmark, where he has held several leading positions within both the shipping and offshore industries. He was CEO of Maersk Drilling from 2005 until his appointment as vice CEO of A.P. Moller - Maersk and CEO of the Energy division.

“I have known Claus since 1985,” said Søren Skou, CEO of A.P. Moller - Maersk. “We joined the executive board together in 2007 and have been working closely together on the transformation of A.P. Moller - Maersk over the last two and a half years. I have truly appreciated our partnership and friendship. Claus embodies the values of A.P. Moller - Maersk and is an outstanding leader who has made many significant contributions to the company.”

The demerger is part of a transformation started by A.P. Moller - Maersk in 2016 to focus on becoming a global integrator of container logistics.