COSCO Group Wei Jiafu

China Cosco Chairman To Step Down Immediately

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July 16, 2013

Chinese Chairman of COSCO Group, Wei Jiafu, delivers a speech after he is awarded with an honorary medal during a ceremony at Greece’s Foreign Ministry in Athens, June 27, 2013. REUTERS/John Kolesidis

reuters logoHONG KONG, July 16 (Reuters) – China Cosco said on Tuesday its chairman Wei Jiafu has resigned as the company’s chairman, chief executive officer and all other positions within the company with immediate effect, citing age.

The Chinese shipping giant had announced earlier this month that Ma Zehua will replace Wei as chairman.

(Reporting by Clement Tan and Christina Lo; Editing by Louise Heavens)

(c) 2013 Thomson Reuters, Click For Restrictions

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