P&O Nedlloyd set to disappear
Aug 11, 2005
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AP Moller-Maersk A/S will complete its purchase of Royal P&O Nedlloyd NV during the course of today (Thursday, 11 August 2005). And with this acquisition comes the news that the brand names of P&O Nedlloyd and Maersk Sealand are both to disappear.
From March 2006 the two companies will be known simply as Maersk Line.
Maersk Logistics and P&O Nedlloyd Logistics will similarly be integrated under the brand name of Maersk Logistics.
In order to offer stability to customers throughout the coming peak season, both shipping lines will continue to operate separately until the end of February 2006, which will enable P&O Nedlloyd to honour its commitments to various conferences and consortia. The Anglo-Dutch company will however announce its withdrawal from a number of the consortia and conferences within the next few days.
It is expected that the full integration of AP Moller-Maersk A/S and Royal P&O Nedlloyd NV will have been completed in stages by the end of 2006.
Royal P&O Nedlloyd’s CEO Philip Green and the CFO David Robbie will both step down from their positions - Robbie to leave the organisation soon after settlement and Green to continue assisting AP Moller – Maersk A/S for a period during the integration.
Eric Sisco, the current MD of Maersk in Spain now assumes the position as CEO of Royal P&O Nedlloyd NV.
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