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Maersk gets a new CEO to lead the shipping company through rough waters.

Shipping giant A.P. Moller-Maersk announced on Monday that Soren Skou will be replaced as CEO on January 1 by Vincent Clerc, who has worked for the company for 25 years.

Clerc, who has been with the company for a long time and is currently in charge of its Ocean & Logistics business, is taking over as CEO at a time when there is less demand for transportation and logistics because a global recession is coming.


In a statement, chair of the board Robert Maersk Uggla said, “The strong tailwinds that helped the supply chain industries during the pandemic are coming to an end.”

“With the future becoming more difficult, the board thinks Vincent has the right experience and skills to lead Maersk’s strategic and organizational development over the next few years,” he said.

Related: Maersk will buy the Danish logistics company Martin Bencher Group.

Clerc, a Swiss citizen who was born in 1972, started working for Maersk in 1997. Since then, he has held several high-level jobs, such as chief trade and marketing officer and chief commercial officer.

He has been a key part of the company’s growth outside of its main ocean freight business.

Copenhagen-based Maersk is one of the biggest shipping and logistics companies in the world. It helps big companies like Walmart (NYSE:WMT) and Nike (NYSE:NKE) manage their supply chains It helps big companies like Walmart (NYSE:WMT) and Nike (NYSE:NKE) manage their supply chains. It has more than 100,000 employees in 130 different countries.


Since 2016, Skou has been in charge of the group, which went from being a conglomerate to an integrated logistics company under his watch.


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