Vice CEO to Leave Maersk

September 28, 2020 0 Comments

first_imgClaus V. Hemmingsen is to step down as Vice CEO of A.P. Moller – Maersk and CEO of the Energy division, having successfully concluded the separation of the group’s oil and oil-related businesses.Maersk Tankers, Maersk Oil and Maersk Drilling were separated as part of the transformation initiated in 2016 in order for Maersk to focus on becoming the global integrator of container logistics.As informed, the Energy division will close down latest by the end of June 2019, and Claus Hemmingsen will subsequently leave Maersk.Hemmingsen joined 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 for Maersk Drilling from 2005 and until his appointment as Vice CEO of A.P. Moller – Maersk and CEO of the Energy division in 2016.The Energy division has since 2016 found new ownership structures for Maersk Tankers, Maersk Oil and Maersk Drilling focused on protecting the assets and capabilities of the businesses. A.P. Moller – Maersk managed to strengthen the financial stability and freed up resources to focus future growth on container logistics, executing on USD 12 billion worth of corporate transactions.“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,” Claus Hemmingsen said.Last week, Maersk unveiled it would no longer pursue a separation solution for its offshore marine services business. Maersk Supply Service will be reclassified from discontinued operations to continuing operations in A.P. Møller – Mærsk.It has been estimated that Maersk’s transformation from a conglomerate to an integrated global container logistics company is to last between three to five years.On April 2, Maersk investors expressed their concerns about the stage of the progress to remake the group. However, the main shareholder and the chairman of the group backed the management’s efforts being made in that context, Reuters reported.Ane Maersk Mc-Kinney Uggla, chairwoman of the A.P. Moller Foundation, has described the shipping group as a “supertanker” taking a long time to turn around. Although 2018 was challending for the group, there have also been many good things in its transformation, according to the chairwoman.In 2018, A.P. Moller – Maersk reported an increase in revenue of 26% to USD 39 billion compared to USD 30.9 billion reported a year earlier, with growth in all segments. EBITDA for the year was USD 3.8 billion, increasing from USD 3.5 billion seen in 2017, in line with the company’s latest guidance of USD 3.6 – 4 billion.Net profit including discontinued operations was USD 3.2 billion, against a loss of USD 1.2 billion reported in the previous year, positively impacted by an accounting gain of USD 2.6 billion from the closing of the Maersk Oil transaction in 2018 and impairment in Maersk Drilling.last_img read more

GNBA, GECOM meet to discuss elections partnership

January 12, 2020 0 Comments

first_imgExecutives from the Guyana National B r o a d c a s t i n g Authority (GNBA) and the Guyana Elections Commission (GECOM) met on Thursday to discuss collaboration for the upcoming March 2, 2020, General and Regional Elections. Attending the meeting on behalf of the GNBA were Board Chairman Leslie Sobers, Board Member and Chair of the Monitoring and Compliance Committee Jocelyne Josiah, Board Secretary Violet Boyal, Head of the Monitoring and Compliance Department Christina Bianchini, and Public Relations Officer Joel Ally. On GECOM’s side were Chairman Justice Claudette Singh, Chief Elections Officer Keith Lowenfield, and Public Relations Officer Yolanda Ward. Sobers gave a synopsis of the mandate of the GNBA and the scope of the authority with respect to its monitoring parameters and capacity. The Chairman alluded to the fact that GECOM has a wider mandate as it relates to monitoring during the elections period, and it is the intention of the Authority to collaborate with the Guyana Elections Commission and the Ethnic Relations Commission (ERC) during the elections period. He went on to explain that the Authority, similar to the ERC and GECOM, monitors for content that may incite racial hatred or crime and public disorder, with respect to broadcasting. He pointed out that enshrined in the Broadcasting Act, there is a fairness doctrine which means that broadcasters, when dealing with controversial issues, must cater for balance and fairness with respect to treatment, time and space allocation. Board member Josiah informed GECOM representatives that there is an entire department at the GNBA that monitors content. She proffered that the Code of Conduct for GECOM needs to be reviewed and updated in preparation for the upcoming elections; GECOM representatives agreed. PRO Ally informed the meeting that the populace is gradually moving away from the mainstream media and social media is continuously growing. He added that reporters in addition to signing on to the Media Code of Conduct should also reflect those principles stipulated in the Code of Conduct when posting content and opinions on social platforms; being cognisant of the fact that they have an influence on their followers.????????????????????????????????????last_img read more