New CEO Appointed at Maersk FPSOs, LNG

Senior Vice President of A. P. Møller – Mærsk A/S, Mr. Stig Hoffmeyer (54) has been appointed CEO of Maersk FPSOs and Maersk LNG. Mr. Hoffmeyer brings many years of management experience from various industries, including 14 years with the A.P. Moller - Maersk Group, among other, as CEO of the DISA Group 1997-2001 and former Rosti Group 2002-2010.

The CEO since 2008, Mr. Paul Carsten Pedersen (55) has been in various positions in A.P. Moller - Maersk since 1981, mainly within Maersk Drilling and within business development. Mr. Pedersen will remain engaged with the Maersk FPSOs business and will take charge of Special Projects, under reference to the new CEO.

"The industry outlook is promising and the Maersk FPSOs and Maersk LNG business units are well positioned in the market place and are recognized as significant players in the industry. The market in general is forecasted to face an ever increasing demand for deepwater floating production and transportation of oil and gas worldwide," said Partner and member of the Executive Board of A.P. Moller – Maersk, Mr. Claus V. Hemmingsen. "The A.P. Moller - Maersk Group has among its core competencies oil & gas drilling and production. In the meantime, the financial and operational performance of the current FPSO business need to be further improved. Mr. Hoffmeyer holds experience from three major turnarounds, which will be deployed especially in the Maersk FPSOs business."

"Seen from a newcomer's view, this industry has an attractive potential, says the new CEO Stig Hoffmeyer. "However, during the emerging years of the FPSO technology development, the profitability has so far not yet been at a satisfactory level. I am looking forward to working closely with my new colleagues to fully explore the potential of our organization and to leverage on the asset investments made by our shareholders," said the new CEO.