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New CEO for Maersk Supply Service

Maersk Supply Service’s chief procurement officer Steen S. Karstensen is to replace Jørn Madsen as CEO of the company from October 24.

Madsen is leaving to become CEO of Maersk Drilling, where he will start work on November 7.

Karstensen has worked for the Maersk Group for 30 years and has a tough road ahead of him in his new role. Maersk Supply in August announced it would slash its OSV fleet by up to 20 vessels over the coming 18 months. Over 465 employees will also be made redundant.

“I’m excited to take on this new role. Maersk Supply Service is currently operating in very tough markets, but nevertheless is well positioned to broaden its scope of operations,” Karstensen said.

“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.”

The new CEO previously worked in group procurement for Maersk Maritime Technology, Maersk Oil Trading and Maersk Management Consulting. Claus V. Hemmingsen, vice-CEO of the Maersk Group, said this has given Karstensen “in-depth exposure to also the energy-related aspects of the Maersk business model”.

“In addition, Steen helped in creating Maersk Management Consulting from scratch, which has brought talent and new thinking to our businesses,” Hemmingsen said.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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