Swiss liner giant MSC has confirmed ex-Maersk COO Soren Toft as its new CEO.

Ending days of speculation since Toft quit Maersk last week after 25 years, the company said the 45-year-old Danish executive will be supporting the founding Aponte family.

It added he will report directly to group president Diego Aponte and founder and group chairman Gianluigi Aponte.

The Wall Street Journal had earlier cited sources saying that Gianluigi Aponte was to step down in a reshuffle that would allow Toft to become group CEO.