China Cosco general manager Jiang Lijun resigns

A Chinese national flag flies in front of COSCO's headquarters in Beijing August 26, 2010. REUTERS/Barry Huang

China Cosco Holdings general manger Jiang Lijun has resigned from his position, as the 60-year old has reached the retirement age.

The board (the “Board”) of directors (the “Directors”) of China COSCO Holdings Company Limited (the “Company”) announces that Mr. Jiang Lijun has tendered his resignation as an executive Director and the president of the Company with effect from 8 December 2015.

Mr. 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. Mr. Jiang Lijun’s resignation was because he has reached the retirement age. The Board would like to take this opportunity to express its sincere gratitude to Mr. Jiang Lijun for his significant contribution towards the Company in the past. Mr. Jiang Lijun confirmed that he has no disagreement with the Board, and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company (the “Shareholders”).


The Board is pleased to announce that Mr. Xu Zunwu has been proposed by the Board to be appointed as an executive Director, and he will perform the duties of president of the Company starting from 9 December 2015. According to the articles of association of the Company (the “Articles of Association”), the appointment of Mr. Xu Zunwu as an executive Director is subject to the approval of the Shareholders at a general meeting. An ordinary resolution in relation to the appointment of Mr. Xu Zunwu as an executive Director will be proposed at the next general meeting of the Company (the “EGM”). The notice of the EGM, together with the form of proxy and reply slip, containing such ordinary resolution will be despatched to the Shareholders in due course.


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