New Chief Financial Officer joins Maersk Tankers

For Morten Mosegaard Christensen, the attraction of working for Maersk Tankers is founded in a genuine interest in the product tanker industry and the company. He is also keen to be a part of the transformation of Maersk Tankers into an independent company under the ownership of A.P. Moller Holding, which took effect on 10 October 2017.

Mosegaard joins Maersk Tankers from Danske Bank where, most recently, he served as interim Chief Financial Officer and Chief of Staff. Previously, he held different leadership positions at the bank, including Head of Group Finance and Head of Group Financial Management. He also worked in strategy and business development at a senior management level, and holds a PhD in Finance from the University of Southern Denmark.

The bank sector and product tanker industry may seem different, but in certain areas they have much in common, according to Mosegaard. He points to similarities of mindset, as well as in their approaches to risk and trading. “For both companies, markets are changing rapidly, which calls for fast decision-making on trading and risk agility,” he says. “These abilities are inherent to Maersk Tankers, which is operating in a highly volatile industry, and they will only grow in importance as the company establishes itself in its new ownership structure.”

Financial insight and strategic focus

With 13 years under his belt at Danske Bank, Mosegaard brings with him extensive experience in performance management, tax, cost control, accounting, business intelligence and capital management.

He knows how to adapt to challenging economic times. “I was part of Danske Bank when it was going through the financial crisis, and as part of that, you learn how to retain financial discipline and help a company take the right decisions in a challenging setting,” he says. “When customers come to you with a request, you need to be able to make an informed decision fast. That is something an organisation needs to be comfortable with and ready for, and it requires a lot of input from Finance in terms of supplying the necessary financial insight.”

Mosegaard has been described as a strategic leader, who is able to drive results and ensure financial transparency. He says that he is a leader who allows employees to take ownership of tasks, believing that “employees like to take responsibility and thrive when empowered.”

Positioning Maersk Tankers for the tide to turn

The product tanker industry is at a low point in the cycle, with market rates at their lowest level in a decade. For Mosegaard, the potential lies in thoroughly preparing for the future.

“We know that there are ups and downs in a cycle and being well-prepared is key – that’s how opportunities arise and can be taken advantage of,” he says. “Right now, everybody is looking forward to the tide turning and Maersk Tankers is well positioned to take advantage of it when it does. The mid- and long-term prospects for the industry, the markets and Maersk Tankers are positive.”