Patriarch Maersk McKinney Moller at 98, leaving vast shipping empire
2012 04 18
- Details
PARTNER and shipowner Maersk McKinney Moller has passed away at a Copenhagen hospital on April 16 at the age of 98.
Maersk McKinney Moller became the joint owner of the company "Firmaet AP Moller" in 1940 and in 1965, became company chairman on the death of Arnold Peter Moller, his father, as well as chairman of AP Moller-Maersk Group.
Under his leadership, the group has grown to own the largest container shipping line in the world, Maersk Line, and to control significant oil and gas operations.
Mr Moller undertook the daily management of the group until 1993 when he stepped down to take up the role as chairman of AP Moller-Maersk until 2003.
Said daughter and company director Ane Maersk McKinney Uggla: "We are grateful that our father lived a long and eventful life. In his never failing wish to do good, together with many and great initiatives, he has left a significant mark on our time."
At the time of his death, Maersk McKinney Moller was chairman of the board of the AP Moller and Chastine McKinney Moller Foundation, the AP Moller Relief Foundation, and the Maersk Employee Foundation, which together hold more than 50 per cent of the company's A shares.
According to Wikipedia Maersk McKinney Moller was placed on the Forbes List of Billionaires as the 557th wealthiest person in the world in 2007. With an estimated fortune of DKK123 billion (US$21.6 billion), Forbes claimed he was the second richest man in Denmark after Kjeld Kirk Kristiansen, until his death.
Said Maersk chairman Michael Pram Rasmussen: "AP Moller-Maersk has lost a businessman of international format and the man who, if any, can take credit for the group being among the world's leading and Denmark's undisputed largest business."
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