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END OF AN ENERGY ERA AT MAERSK AS CEO ANNOUNCES DEPARTURE

Wednesday, April 3, 2019 

Claus V Hemmingsen is to step down as Vice CEO of AP Moller-Maersk and CEO of the Energy division, having successfully concluded the separation of Maersk Tankers, Maersk Oil and Maersk Drilling as part of the transformation initiated in 2016 to focus the group on becoming a global integrator of container logistics.

The Energy division will close down latest by the end of June 2019, and Hemmingsen will subsequently leave AP Moller-Maersk.

The Board of Directors acknowledges Hemmingsen's dedicated and significant contribution to AP Moller-Maersk, where he has served as Member of the Executive Board since 2007 and as Vice CEO and CEO of the Energy division since September 2016. Maersk's Energy division has now established new ownership structures for Maersk Tankers, Maersk Oil and Maersk Drilling focused on protecting the assets and capabilities of the businesses.

"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.

"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. I am proud of the results the Energy division as a team and my colleagues in our oil and oil related businesses have achieved," said Hemmingsen.

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