Former Maersk executive takes helm as CEO of rival MSC

[LONDON] Soren Toft on Wednesday started his role as chief executive of Swiss headquartered container group MSC's shipping and logistics business almost a year after he was hired from rival AP Moller Maersk.

Mr Toft was appointed by MSC in November last year but has only just formally taken up his new job.

MSC, privately owned by the Aponte family, is the world's second-largest container shipping line and is seen by industry analysts as a challenger to Maersk's position as the market leader.

MSC said Mr Toft would report directly to MSC group's president, Diego Aponte, and the company's founder and chairman Gianluigi Aponte.

"With his 25 years of experience in leadership roles at Maersk, and his comprehensive understanding of the future of the container shipping supply chain, Soren is the ideal match to help lead MSC into the future at the helm of our family company," Mr Diego Aponte said.

The container market is currently experiencing its strongest earnings in years, boosted by a surge in demand for consumer goods that liner ships transport due to lockdown restrictions around the world.

Mr Toft had most recently served as Maersk's head of operations.

REUTERS