ITF Unions in Maersk
Private holdings in Maersk ships risk conflict of interest
8 July 2008
Maersk admits potential risk.
Senior Maersk executives have private ownership in 16 Maersk ships, and this means they are minding their own interests as well as the interests of shareholders, reports daily paper Børsen.
Major Danish pension fund ATP calls it unusual, and Børsen states that the Maersk management admit there is the risk of a conflict of interest.
But Lars-Erik Brenøe, personal assistant to Mærsk Mc-Kinney Møller, tells the paper: “None of the shareholders’ money goes into employees’ pockets via this. When the company makes an agreement with a jointly-owned shipping company in which the employees participate, it is an agreement entered into on commercial terms. And all agreements are approved by the supervisory board.”
He says once the ships are entered into a pool with other shipowners, individual Maersk directors have no influence on the ships’ earnings.
|
