Maersk Oil leaders have been appointed by Total for the first management positions in the future business. The appointments are subject to successful deal closure and will not be effective before this. Closing is still expected during Q1 2018, pending regulatory approvals.

Martin Rune Pedersen, Chief Operating Officer in Maersk Oil will, following a successful closure, become Vice President of Total’s operations in Norway, Denmark & Netherlands.

Troels Albrechtsen, Chief Technology Officer in Maersk Oil will be appointed Vice President for the Technical centre to be established in Copenhagen. The centre will be part of Total’s global technical organisation, supplementing the existing centres in Paris and Pau.

“I am pleased to see Total’s continued commitment to maximise the full value of Maersk Oil’s operational and technical capabilities and the positioning of a strong Danish leadership team in their North Sea business,” says Claus V. Hemmingsen.

The appointments follow the decision by Gretchen Watkins, CEO of Maersk Oil, to pursue other career opportunities once Total’s acquisition of Maersk Oil successfully closes. Gretchen will continue to lead Maersk Oil until deal closure, leading the pre-integration process as the business moves towards new ownership.

“Gretchen has in her roles as CEO and prior to this, as Chief Operating Officer in Maersk Oil, played a decisive role in steering a transformation in Maersk Oil’s operational performance. I am glad that she will be here to continue leading successful and safe delivery of the business, placing Maersk Oil in the best position possible, until the deal closes,” says Claus V. Hemmingsen, Vice CEO of A.P. Moller – Maersk and CEO of the Energy division.

Gretchen Watkins joined Maersk Oil as Chief Operating Officer in January 2014 and has been CEO of Maersk Oil since October 2016.

“This has been a difficult decision for me. I couldn’t be prouder of the way Maersk Oil has successfully navigated what I believe will come to be judged as historically challenging conditions for the industry, emerging as a high performing business. I remain firmly committed to leading the safe and successful delivery of our business performance until deal closure, alongside overseeing a smooth pre-integration process, as we take the business into new ownership,” says Gretchen Watkins, CEO of Maersk Oil.

Tags: Maersk Oil, Total