China: Cosco gets new chairman as China Shipping merger drags on

Ma Zehua, the man who replaced Wei Jiafu as chairman and party secretary for China Cosco Holdings in 2013 when the charismatic executive quit unexpectedly, stepped down Thursday as chairman of the mainland’s largest carrier.

Cosco announced to the stock exchange that Wan Min, a non-executive director, has been appointed as chairman and a member of the executive committee.

Cosco said the the resignation of Ma is “due to change of work positions” and that Ma “has confirmed that he has no disagreement with the board”.

Ma had assumed the leadership position at Cosco back in July 2013 when his predecessor Wei Jiafu quit due to his retirement age.

Wan had held various senior roles at Cosco including the group’s container shipping units and freight department.

Full content: Seatrade Maritime News

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