Engagement over time – the family in the Foundations

Ane Mærsk Mc-Kinney Uggla became the Chair of the A.P. Moller Foundation in 2012, succeeding her father Mærsk Mc-Kinney Møller. Ane M. M. Uggla’s engagement in the Foundation started 26 years earlier, when she became the first of her generation to be a member of the Board. The next generation has since joined.

The A.P. Moller Foundation was established in 1953 by A.P. Møller, who was its first Chair. Mærsk Mc-Kinney Møller was a board member and became the second Chair upon his father’s death in 1965.

In accordance with its deed, at least one descendant of A.P. Møller must be a member of the Foundation’s Board and thus ensure that the Foundation will continue to exercise its role as an engaged owner of businesses in the spirit of A.P. Møller .

The phrase “in the spirit of A.P. Møller” is derived from the deed of the Foundation, where A.P. Møller explains his business principles in three short statements, saying that the companies:

• “…must be well consolidated…”,
• “…must build up activities and have a positive impact on society…”, and
• “…that paying out dividends is of secondary importance…”.

• The first statement is a direct reference to the volatile nature of the shipping market; depreciation and savings were made to safeguard the viability of the business over the economic cycles.
• Secondly, the liberally minded A.P. Møller saw business activities as a useful means for a positive development of society.
• The third principle implies that profits from the business activities should be reinvested in the existing business or used for “the build-up of useful activities”; only when principles 1 and 2 are fulfilled will the shareholders receive a dividend.

Mærsk Mc-Kinney Møller remained the Chair of the A.P. Moller Foundation until his death in 2012. During his presidency, first Ane M. M. Uggla (1986) and then her sister Leise Mærsk Mc-Kinney Møller (1991) joined the board. Leise Møller stepped down in 2016, when the next generation entered; Leise Møller’s daughter Alette Mærsk Mc-Kinney Sørensen.

Learn more about the A.P. Moller Foundation via the link (only available in Danish)

Learn more about the A.P. Moller Foundation