China COSCO Holdings Company Limited announced that Jiang Lijun has tendered his resignation as an executive director and the president of the company with effect from 8 December 2015 as he has decided to retire.
Jiang Lijun will cease to be a member of the strategy and development committee and nomination committee of the company upon his resignation taking effect.
The Board has appointed Xu Zunwu as an executive director, and he will perform the duties of president of the company starting from 9 December 2015, the company said.
The appointment of Mr. Zunwu is subject to the approval of the shareholders at a general meeting.
Mr. Xu Zunwu, aged 58, is currently the deputy general manager of the company, the vice chairman, managing director and vice party secretary of China COSCO Bulk Shipping (Group), the chairman of COSCO Bulk, Qingdao Ocean Shipping, Shenzhen Ocean Shipping and COSCO (H.K.) Shipping Co.