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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.

“In the spirit of A.P. Møller”
The phrase 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…”
  • “…that paying out dividends is of secondary importance…”

The three statements

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.

Board of the A.P. Moller Foundation

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).


Five generations of the Mærsk family

Based on more than 20 years of experience as a captain on sailing ships, Peter Mærsk Møller acquired the small steamer ‘Laura’ and took the family company from sail to steam.


The Mærsk family companies

A.P. Møller, strongly supported by his father, captain Peter Mærsk Møller, established the Steamship Company Svendborg, the forerunner of today’s A.P. Moller – Maersk.


The calculated risk – starting a business

A.P. Møller founded the Steamship Company of 1912. The objective was to create a base for growth.


Growth and consolidation

A.P. Møller set up a small office to act as the manager of the fleets of the Svendborg and 1912 companies. The first transactions in brokerage of ships and cargoes took place.


A.P. Møller was asked by the Danish government to take up the presidency of Danske Bank

He remained the Chair until 1952, taking the bank from public to private ownership. During this time, A.P. Møller and the shipping companies invested in the bank.


The family partnership

Mærsk Mc-Kinney Møller became a partner in “Firmaet A.P. Møller”.


The A.P. Moller Foundation as an owner

The A.P. Moller Foundation was established to ensure a long-term, stable ownership structure of the Maersk activities. A.P. Møller was the Chair, and Mærsk Mc-Kinney Møller was a board member.


Into energy - for the greater good

A.P. Møller, together with the Steamship Company Svendborg and the Steamship Company of 1912, was awarded the concession for exploration and extraction of raw materials in the Danish underground.


Mærsk Mc-Kinney Møller

Mærsk Mc-Kinney Møller became senior partner and Chair of the Svendborg and 1912 companies, the shipyard, other companies and the foundations after his father, A.P. Møller’s death on 12 June 1965.


A strategy for the A.P. Moller Group

The direction for the next 45 years of expansion was laid in a strategy for The A.P. Moller Group.


Engagement over time – the family in the Foundations

Ane Mærsk Mc-Kinney Uggla became a member of the board of the A.P. Moller Foundation, today’s owner of A.P. Moller Holding.


After 28 years at the helm of the Group, Mærsk Mc-Kinney Møller stepped down from daily management.

Mærsk Mc-Kinney Møller remained Chair of the Foundations, the Svendborg and 1912 companies and the Odense Steel Shipyard.


The origin of the Core Values

Mærsk Mc-Kinney Møller retired from most presidencies in the A.P. Moller – Maersk Group. Ane Mærsk Mc-Kinney Uggla became the Co-chair of A.P. Moller – Maersk. Mærsk Mc-Kinney Møller introduced the five Core Values, based on his father’s leadership principles.


Ane Mærsk Mc-Kinney Uggla

Ane Mærsk Mc-Kinney Uggla became the Chair of the A.P. Moller Foundation when Mærsk Mc-Kinney Møller died on 16 April 2012.


A.P. Moller Holding was established to act as the investment arm of the A.P. Moller Foundation

The majority ownership of A.P. Moller – Maersk was transferred to A.P. Moller Holding from the A.P. Moller Foundation. Ane Mærsk Mc-Kinney Uggla became the Chair of A.P. Moller Holding.


A.P. Moller Holding

Adding to its 2.98% holding, A.P. Moller Holding acquired 15% of Danske Bank’s total share capital as part of A.P. Moller – Maersk’s divestment of the same. Following the 15% acquisition, A.P. Moller Holding bought an extra 2.02% to fulfill the ambition of a total ownership of 20%.


Robert M. Uggla

Robert M. Uggla became the CEO of A.P. Moller Holding. A.P. Moller – Maersk was restructured into two independent divisions; an integrated Transport & Logistics division and an Energy division.


The Africa Infrastructure Fund

The Africa Infrastructure Fund was established by A.P. Moller Capital, which was founded to manage stand-alone funds focusing on infrastructure in emerging markets. Maersk Tankers was acquired by A.P. Moller Holding from A.P. Moller – Maersk.


Maersk Oil

Maersk Oil was divested from A.P. Moller – Maersk to Total S.A.


Maersk Drilling

At the public listing of Maersk Drilling, A.P. Moller Holding retained a 41.26% share of the company. A.P. Moller Holding acquired KK Group.