Photo: Peter Gudella / Shutterstock.com
Nov 25 (Reuters) – General Electric Co has named Carolina Dybeck Happe, currently finance chief at shipper AP Moller-Maersk as its chief financial officer, the latest in a slew of management changes aimed at stabilizing the U.S. industrial conglomerate.
Happe will start in early 2020 and replaces Jamie Miller, whose departure was announced earlier this year as new Chief Executive Officer Larry Culp seeks to simplify and revive operations after booking billions of dollars in losses.
The company has been struggling with the fallout of a series of poor long-term financial bets, driving its share price as low as $6.4 last December from highs above $50 in 2000.
The company’s aviation business is also under pressure from the worldwide grounding of Boeing’s 737 MAX, for which it makes engines.
The departure of Dybeck Happe comes at a bad time for Maersk, the world’s biggest container shipping company, leaving only three members of its executive board.
Struggling with low freight rates and a slowdown in container shipping, Maersk is striving to regain its footing more than three years after announcing a new strategy that would see it sell off its oil and gas business and focus entirely on container and logistics services. (Reporting by Dominic Roshan K.L. and Uday Sampath Kumar in Bengaluru, Jacob Gronholt-Pedersen in Copenhagen; Editing by Sriraj Kalluvila)
(c) Copyright Thomson Reuters 2019.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,100 members that receive our newsletter.
Have a news tip? Let us know.
By Dimitri Rhodes Nov 7 (Reuters) – Belgian oil tanker company CMB Tech says it will focus on the fast growing market in India as it reported third quarter results...
In a bold move amidst Russia’s intensified rocket attacks on civilian ships and Ukrainian ports, Maersk has launched a new weekly container service into Ukraine, signaling resilience in the country’s...
By Robert Tuttle (Bloomberg) A tanker of Canadian crude was shipped from Vancouver to Alaska for the first time in at least 10 years as the recently expanded Trans Mountain pipeline...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,100 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
