Heiress takes helm at Maersk controlling foundation

Monday, 30 April 2012 00:00 - - {{hitsCtrl.values.hits}}

COPENHAGEN (Reuters): The foundation that controls Danish shipping and oil group A.P. Moller-Maersk has elected Ane Uggla, daughter of deceased shipping magnate Maersk Mc-Kinney Moller, as chairman, the foundation said on Wednesday.

The A.P. Moller and Chastine Mc-Kinney Moller Foundation for general purposes owns 41.22 percent of the stock and holds 50.60 percent of the voting rights in A.P. Moller-Maersk.

A.P. Moller-Maersk owns Maersk Line, the world’s biggest container shipping company, and is an oil producer mainly in the Danish North Sea and Qatar. It is also engaged in tanker shipping, supermarkets and has a one-fifth stake in Danske Bank .

Uggla, 63, is the youngest of three daughters of Moller, who headed the foundation until his death on April 16 and who had designated her as his successor as chairman of the foundation.

She had been deputy chairman since 1998 and a member of its board since 1986, the foundation said in a statement.

She is also deputy chairman of the board of A.P. Moller-Maersk and has emerged as the leader of the Moller family’s business interests.

In addition to the foundation for general purposes, a Moller family foundation holds 9.85 percent of the share capital of A.P. Moller-Maersk and 13.53 percent of the votes, and a third, the “A.P. Moller support fund”, holds 2.94 percent of the stock and 5.86 percent of the votes.

Maersk Mc-Kinney Moller, who died at age 98 and who had built the company inherited from his father into a global business, held 3.72 percent of the shares and 6.49 percent of the votes.