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As Maersk lays off 200, its old COO defects to manage MSC

MAERSK is about to start again after 200 job cuts and loss of several executives, but its old operations chief Soren Toft's arrival to manage Mediterranean Shipping Co (MSC) is what has industry tongues wagging today, reports London's Lloyd's List

As Maersk lays off 200, its old COO defects to manage MSC

MAERSK is about to start again after 200 job cuts and loss of several executives, but its old operations chief Soren Toft's arrival to manage Mediterranean Shipping Co (MSC) is what has industry tongues wagging today, reports London's Lloyd's List

30 December 2019 - 19:00

MAERSK is about to start again after 200 job cuts and loss of several executives, but its old operations chief Soren Toft's arrival to manage Mediterranean Shipping Co (MSC) is what has industry tongues wagging today, reports London's Lloyd's List.

Mr Toft's arrival at MSC could mark the start of a radical shake-up within the Aponte-owned group's container shipping business, as he know the intimate secrets of the world's two biggest players in container shipping.



With news of Mr Toft's defection followed by the resignation of chief financial officer Carolina Dybeck Happe and some other top-level departures, there has been plenty of industry talk that all was not well at Maersk, said Lloyd's List.



But the company has had frequent clear-outs over the years, the last in 2015 when chief commercial officer Stephen Schueler was one of around 4,000 casualties as the headcount was culled over a couple of years.



In the interim, there have been several more senior executive lay-offs, most notably group chief executive Nils Andersen in 2016, while Jakob Stausholm quit as chief financial officer in mid-2018.



None of which should be particularly surprising in a group that is going through such a huge restructuring by merging separate standalone businesses into a single company. Not every face fits in the new set-up.


WORLD SHIPPING

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