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China COSCO Holdings Co Ltd Announces Board Changes-DJ


Monday, 1 Jul 2013 10:35pm EDT 

Dow Jones reported that the chairman of China China Ocean Shipping (Group) Co., or Cosco Group has stepped down with immediate effect, at a time when its listed flagship China Cosco Holdings Ltd. is struggling to return to profitability amid the global shipping downturn. Wei Jiafu stepped down as chairman for the reason of age, the Organization Department said. It appointed group President Ma Zehua, as the group's new Chairman and party secretary, while Executive Vice President Li Yunpeng will succeed Mr. Ma as President, it added. Mr. Wei, who is also Chairman of the Hong Kong and Shanghai-listed China Cosco, will likely step down from the post at the listed unit following a board meeting, which hasn't been scheduled. 

Company Quote

3.37
0.19 +5.97%
22 Oct 2014