Dive Brief:
- A.P. Moller - Maersk is bringing on a new CFO, Patrick Jany, who will begin in the role on May 1, 2020, the company announced Wednesday. Jany replaces Carolina Dybeck Happe, who worked less than a year with Maersk before leaving for General Electric in November.
- "Patrick brings solid financial experience and a proven record of managing cost discipline as well as profitable growth through M&A and innovation," A.P. Moller - Maersk CEO Søren Skou said in a statement.
- Jany was CFO at Clariant, a chemical company that develops products for industries ranging from aviation to waste management. He had been in the role since Jan. 1, 2016.
Dive Insight:
Skou's statement points to Jany coming on board to help Maersk navigate mergers and acquisitions. Corporate M&A fell under Jany's purview at Clariant.
Happe mentioned on Maersk's November earnings call the company is planning for more M&A. In its 2018 annual report, Maersk highlights its drilling business as one segment where future deals may be viable. The company's 2019 report will come out later this month.
During Jany's time at Clariant, he oversaw the finances for a large manufacturing supply chain. The company was also taking steps to highlight sustainability within its supply chain ranging from ethical procurement of raw materials to emissions reductions.
Maersk is in the midst of its sustainability journey as it and other ocean carriers work to comply with International Maritime Organization emissions regulations that took effect last month. The carrier has also announced the goal of achieving net-zero CO2 emissions from operations by 2050.
CFOs are an important part of a company's sustainability strategy, according to Deloitte.
Maersk declined to comment on Jany's priorities, citing its quiet period.
