Executive Briefings

Moller, Danish Shipping Patriarch, Dies; Execs Say Company Strategy to Remain the Same

Maersk Mc-Kinney Moller, who transformed his Danish family shipping business into the world's biggest container shipping company, has died at the age of 98.

Shares in A.P. Moller-Maersk, which is still controlled by the Moller family, rose over 6 percent as analysts said younger generations might spin off parts of an empire that also spans oil businesses, supermarkets and a stake in a bank, according to Reuters UK.

Many wonder if the shipping conglomerate could now face changes, like stock splits or demergers, as A.P. Moller-Maersk owns a 20 percent stake in Danske Bank and a controlling interest in supermarket chain Dansk Supermarked in addition to its main shipping and oil businesses. However, company representatives insist that this death will not affect the company's strategy.

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Shares in A.P. Moller-Maersk, which is still controlled by the Moller family, rose over 6 percent as analysts said younger generations might spin off parts of an empire that also spans oil businesses, supermarkets and a stake in a bank, according to Reuters UK.

Many wonder if the shipping conglomerate could now face changes, like stock splits or demergers, as A.P. Moller-Maersk owns a 20 percent stake in Danske Bank and a controlling interest in supermarket chain Dansk Supermarked in addition to its main shipping and oil businesses. However, company representatives insist that this death will not affect the company's strategy.

Read Full Article