Could you give a brief description of A.P. Møller Holding?
A.P. Møller Holding was established in 2013 as the parent company of A.P. Moller - Maersk. To simplify, you can say that the A.P. Møller Foundation gave A.P. Møller Holding the task of exercising its role as majority owner in A.P. Moller - Maersk and of managing the Foundation’s future investments. In 2014, A.P. Møller Holding acquired a large shareholding in Danske Bank, which is a leading bank in Scandinavia.
Why did you establish A.P. Møller Holding?
The Foundation and family were engaged in a project we called ‘Renatum’, which means revival. We felt it was time to reflect on why we had been successful for the last hundred years and what was required to stay relevant for the next hundred years. We concluded that we needed to revitalise our ownership strategy and ownership structure. Subsequently, as part of our participation on the Board of A.P. Moller – Maersk, we also discussed how we could establish an agile and flexible structure for the Maersk activities, driving capital discipline, and where relevant, an increased focus on growth opportunities.
What is the purpose of A.P. Møller Holding?
As the investment arm of the A.P. Møller Foundation, our purpose is to exercise the Foundation’s role as an engaged owner in A.P. Moller - Maersk and Danske Bank, and to ensure that the Foundation can continue contributing to society, in the form of donations, for generations to come. We fulfil this purpose by safeguarding the long-term viability of our portfolio companies and by investing in and building new businesses.
As owners, we believe portfolio renewal comes from developing new businesses inside as well as outside our core holdings. For example, Danske Bank’s MobilePay is an inspiring example of how to try to build a new business platform inside an existing business. At the same time, A.P. Møller Holding is looking at investment opportunities, which have the potential to become bigger businesses outside of our current core holdings.
Finally, I think many see A.P. Møller Holding as a cultural custodian. We need to make sure that the Maersk family name and values are developed in the spirit of A.P. Møller and his son Mærsk Mc-Kinney Møller.
Why is A.P. Møller Holding looking to diversify its investments at a time when A.P. Moller - Maersk is consolidating?
We believe it is paramount to have a diversified portfolio if we are to manage risk in our various portfolio companies. In the past, the Foundation secured diversification through the portfolio of A.P. Moller - Maersk. In the future, the Foundation will secure such diversification through the portfolio of A.P. Møller Holding. It is a structure that enables some of the businesses to become more agile and flexible in how they approach opportunities, while allowing the parent company to remain diversified.