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Norway's KLP slams Maersk chair for excessive directorships

Jim Hagemann Snabe has too many activities alongside his role as chairman of A.P. Moeller-Maersk, says major Norwegian investor KLP. The municipal pensions giant abstained from voting for Snabe at the recent Maersk AGM.

Jim Hagemann Snabe with Ane Uggla, who like the chairman was reelected to the Maersk Group Board of Directors. | Photo: Nikolai Linares

The chair of A.P. Moeller-Maersk, Jim Hagemann Snabe, has too many directorships to serve as the head of the Danish shipping giant’s supervisory board — at least according to Norwegian equity manager KLP.

When Maersk held its annual general meeting (AGM) last Tuesday, KLP — which is Norway’s largest provider of municipal pensions and a Maersk shareholder — abstained from from voting for the chair.

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