Steen Karstensen named new CEO of Maersk Supply Service

Steen Karstensen

The latest twist in the executive management shake-up at AP Møller Maersk Group today sees supply chain expert Steen Karstensen named as chief executive of the conglomerate’s offshore marine services provider, Maersk Supply Service

Mr Karstensen is currently chief procurement officer at the group, and will assume his new role on 24 October. He succeeds Jørn Madsen, who was recently appointed chief executive of Maersk Drilling.

An APM veteran, Mr Karstensen joined the group in 1986, and his 30-year-career with the company has spanned stints in procurement, logistics, supply chain, in-house consultancy and other cross-functional areas.

His previous role in group procurement included overseeing Maersk Maritime Technology, Maersk Oil Trading and Maersk Management Consulting, which combine a workforce of over 800 professionals across 20 different countries.

However, his new role is of a different magnitude.

He said: “Maersk Supply Service is currently operating in very tough markets, but nevertheless is well positioned to broaden its scope of operations.

“A strong balance sheet gives the business a position of strength, from which it can be part of the consolidation and restructuring that inevitably will take place in the industry.”

In 2015 the division reported a $147m profit on revenues of $613m. Its headcount at the end of last year was 2,066.

AP Møller Maersk group vice chief executive Claus Hemmingsen said: “Steen Karstensen is a widely respected leader who has built a strong global procurement organisation serving all of Maersk’s business units, generating significant savings.

“In addition, Steen helped in creating Maersk Management Consulting from scratch, which has brought talent and new thinking to our businesses. I’m excited that he will now take on the challenge in heading Maersk Supply Service in their next chapter of the journey.”