MAERSK Line's chief commercial officer Stephen Schueler, who joined the shipping line three years ago, has become the most high-profile casualty in the latest round of staff cuts, reports Lloyd's List.
He is one of 110 people who have lost their jobs at the carrier's head office in recent weeks as the world's largest containership operator starts to cut costs.
This new round of cuts are part of the cost reduction plans announced last month that will shrink the line's workforce by 4,000 to 19,000 between now and the end of 2018.
Maersk Line has confirmed the layoffs at its Copenhagen headquarters adding it will be reducing the number of regional offices from eight to seven by merging Asia Pacific and North Asia regions.
Mr Schueler's departure comes as part of the organisation restructure that will see the commercial, trade and marketing functions merged into one commercial role under Maersk Line's former trades director Vincent Clerc.
A spokesman for Maersk Line confirmed that "Mr Schueler has resigned to return to the US with his family".
Other changes include a shake-up in the management structure of Seago Line, Maersk's intra-Europe brand with its CEO Michael Hansen, will return to Maersk Line to become the new global head of sales.
Mr Hansen will be replaced by Soren Castbak, currently the head of west central Asia trade.
The cost reduction programme announced in November is a two year process that Maersk Line claims will enable them to reduce sales, general and administration costs by US$250 million per year.
Source : HKSG.