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Mærsk Mc-Kinney Møller obituary Mærsk Mc-Kinney Møller obituary
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Mærsk Mc-Kinney Møller, who has died aged 98, transformed a successful family shipping business into the world's largest shipowner and Denmark's biggest corporation, AP Møller-Mærsk group, also known as Mærsk. This achievement in building and sustaining the world's greatest shipping empire from a European base – in pointed contrast to the once-dominant British shipping industry – was extraordinary. Mærsk Mc-Kinney Møller, who has died aged 98, transformed a successful family shipping business into the world's largest shipowner and Denmark's biggest corporation, AP Møller-Mærsk group, also known as Mærsk. This achievement in building and sustaining such an empire from a European base – in contrast to the once-dominant British shipping industry – was extraordinary.
It started with the purchase of a single secondhand tramp steamer by his grandfather Captain Peter Mærsk Møller and his father, Arnold Peter Møller, in 1904. By the time Mærsk succeeded as chairman on his father's death in 1963, the company had established regular cargo services between the US and the far east (Mærsk Line), and its tanker fleet had just won a Danish oil and gas exploration licence. The firm had also established a vertically integrated model that saw it constructing its own ships and equipment. It started with the purchase of a secondhand tramp steamer by his grandfather Captain Peter Mærsk Møller and his father, Arnold Peter Møller, in 1904. By the time Mærsk succeeded as chairman on his father's death in 1965, the company had established cargo services between the US and the far east (Mærsk Line), and its tanker fleet had just won a Danish oil and gas exploration licence. The firm had also begun constructing its own ships and equipment.
As shipping and the global economy expanded and changed beyond recognition, Mærsk Møller, chief executive until 1993 and chairman until 2003, adapted with it, taking the company successfully into container ships, supertankers and the management of ports from the US to Brazil and China. Along the way it swallowed competitors, including Sealand of the US in 1999 and the Anglo-Dutch P&O Nedlloyd group in 2005, with a target of being twice as big as the nearest competitor. Today it has more than 800 vessels. As shipping and the global economy expanded and changed radically, Møller, chief executive until 1993 and chairman until 2003, adapted with it, taking the company into container ships, supertankers and the management of ports from the US to Brazil and China. Along the way it swallowed competitors, including Sealand of the US in 1999 and the Anglo-Dutch P&O Nedlloyd group in 2005, with a target of being twice as big as the nearest competitor. Today it has more than 800 vessels.
In other ventures, the conglomerate established and then sold an airline and a data processing business, and still holds stakes in Denmark's largest supermarkets and a bank, making it the country's largest corporation, with sales equivalent to almost 20% of GDP.In other ventures, the conglomerate established and then sold an airline and a data processing business, and still holds stakes in Denmark's largest supermarkets and a bank, making it the country's largest corporation, with sales equivalent to almost 20% of GDP.
Tight family control has been crucial to the group's success. Although the network of companies is largely publicly owned, a majority of the shares are in the hands of three charitable foundations, which Møller chaired. That allowed him to make long-term investments without the investor pressures that discouraged long-lead investments by, for example, his UK rivals. Looking at Mærsk's most successful international competitors, there is an argument that their success has been due to being privately owned. Tight family control has been crucial to the group's success. Although the network of companies is largely publicly owned, a majority of the shares are in the hands of three charitable foundations, which Møller chaired. This allowed him to make long-term investments without the pressures that discouraged long-lead investments by, for example, his UK rivals. Looking at Møller's most successful international competitors, there is an argument that their success has been due to being privately owned.
Arnold Mærsk Mc-Kinney Møller (always known as Mærsk) was born in Copenhagen, the son of AP Møller and his Scottish-American wife, Chastine Mc-Kinney. After school, he learned the business through postings round the world, including spells with a tramping shipowner in the UK and six months with Lazards bank in London. In 1940, after the German invasion of Denmark, and newly wed to a schoolfriend, Emma Rasmussen, he made the difficult journey via Switzerland to New York. There he took charge of the Møller ships which had escaped German control and put them into Allied hands. Møller was born in Copenhagen (his mother was a Scottish-American, Chastine Mc-Kinney). After school, he learned the business through postings round the world, including spells with a tramping shipowner in the UK and six months with Lazards bank in London. In 1940, after the German invasion of Denmark, and newly wed to a schoolfriend, Emma Rasmussen, he made the difficult journey to New York. There he took charge of the Møller ships which had escaped German control and put them into Allied hands. He returned to Copenhagen in 1947.
He returned to Copenhagen in 1947, succeeding his father in 1965 and remaining chairman until his 90th birthday. He continued to attend the office until the last week of his life, insisting until recently on climbing the five flights of stairs. "Lifts are for pregnant women and those who can't walk," he said. Executives still took care to ask his advice. His usual reply: "I am no longer chairman, but if I were you ..." He continued as chairman until his 90th birthday, attending the office until the last week of his life and insisting until recently on climbing the five flights of stairs. "Lifts are for pregnant women and those who can't walk," he said. Executives still took care to ask his advice. His usual reply: "I am no longer chairman, but if I were you …"
Møller was a tough wiry man, with a formidable presence that dominated a room, causing Danes to address him with the rarely-used formal "De". He lived unostentatiously and was a familiar figure waving from his yacht off Copenhagen. Møller was a tough, wiry man with a formidable presence that dominated a room, causing Danes to address him with the rarely used formal "De". He lived unostentatiously and was a familiar figure waving from his yacht off Copenhagen.
He revered his father for shaping the company and took AP Møller's exhortation – "No loss should hit us, which could be avoided with constant care" – as his own and the company's business philosophy. He insisted "people can trust us", whether it was governments, employees or business partners. He revered his father for shaping the company and took AP Møller's exhortation – "no loss should hit us which could be avoided with constant care" – as his own and the company's business philosophy. He insisted "people can trust us", whether it was governments, employees or business partners.
Some questioned the tight family control and, following the appointment of its first chief executive from outside the family in 2007, the company reduced its vertical integration and closed a Danish shipyard. But its container business has since started to struggle and the company made a loss last year. Some questioned the tight family control and, following the appointment of its first chief executive from outside the family in 2007, the company was shaken up and closed a Danish shipyard. But its container business has since started to struggle and the company made a loss last year.
Generally regarded as Denmark's most influential businessman, Møller resisted pressures to outsource to the far east and retained activities in Denmark, notably shipbuilding. A conservative, he was also an anglophile, establishing London as one of four centres of ship management, registering ships under the Red Ensign and funding the Centre for Continuing Education at Churchill College, Cambridge. He was appointed an honorary KBE in 1989.Generally regarded as Denmark's most influential businessman, Møller resisted pressures to outsource to the far east and retained activities in Denmark, notably shipbuilding. A conservative, he was also an anglophile, establishing London as one of four centres of ship management, registering ships under the Red Ensign and funding the Centre for Continuing Education at Churchill College, Cambridge. He was appointed an honorary KBE in 1989.
In Denmark, he was close to the royal family – one of only three Danish non-royals ever to be made a knight of the Order of the Elephant – and a major contributor to charitable causes through the Møller Foundation. Most notably, he financed the new opera house on Copenhagen harbour, close to the Mærsk headquarters and the Amaliehaven garden. In Denmark, he was close to the royal family – one of only three Danish non-royals ever to be made a knight of the Order of the Elephant – and a major contributor to charitable causes through the Møller Foundation. Most notably, he financed the new opera house on Copenhagen harbour, close to the Mærsk headquarters and the Amaliehaven garden.
Emma died in 2005. Møller is survived by his three daughters, one of whom, Ane, is deputy chair of the company and will become chair of the largest family foundation.Emma died in 2005. Møller is survived by his three daughters, one of whom, Ane, is deputy chair of the company and will become chair of the largest family foundation.
• Arnold Mærsk Mc-Kinney Møller, shipping magnate, born 13 July 1913; died 16 April 2012• Arnold Mærsk Mc-Kinney Møller, shipping magnate, born 13 July 1913; died 16 April 2012