“We Have the Conn” – A.P. Moller-Maersk’s Executive Board Fills in for CEO Nils Anderson

(Dow Jones) Danish shipping and oil conglomerate A.P. Moller-Maersk (MAERSK-B.KO) said Monday that Chief Executive Nils S. Andersen’s sick leave has been extended by six to eight weeks to undergo corrective surgery in connection with the prosthetic cardiac valve he got late December last year.

It was previously planned that Andersen would resume his duties today Monday, the company said, adding that the surgery is scheduled for Wednesday 28 March.

Until now, and going forward, the executive board will run the A.P. Moller-Maersk Group. During Andersen’s absence, the individual members of the executive board will refer to the Chairman of the Board, Michael Pram Rasmussen.

“We have a real strength in having a top executive management team, which works closely together and has in-depth knowledge of each other’s business areas, and at the same time has the needed authorization to take swift decisions. The management team […] will also be able to handle the extension of Nils S. Andersen’s sick leave without any loss of momentum,” Michael Pram Rasmussen said in a statement.

At 1017 GMT, shares were down 1.6% at DKK43,160.00.

-By Jens Hansegard, Dow Jones Newswires

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