Maersk chairman Michael Pram Rasmussen will step down from the role next month.
The board plans to elect Jim Hagemann Snabe as Mr Rasmussen’s replacement at the firm’s annual general meeting on March 28.
Mr Rasmussen said: “In 2016 we took a decision to change the direction of the company.
“With a new structure accomplished and a new leadership team established led by Soren Skou, we are ready to implement the new strategy focusing on developing Transport & Logistics and for the next generation to take the lead and respond to industry opportunities.
“Timing is right for me as well as for the company to retire as the Chairman.”
Mr Snabe said: “I am honored to be nominated as new chairman of the board.
“A. P. Moller – Maersk is a very strong company, with an impressive history and impact on global trade and it has enormous potential in a world of constant change.
“I look forward to working with the board and the management team on the transformation that lies ahead of us, as well as securing a strong future platform for our oil and oil related businesses”.
Recommended for you
