China Cosco Holdings Ltd. said Tuesday it has named Jiang Li Jun as president of the Hong Kong-listed company with immediate effect, replacing Zhang Liang, who resigned from the position due to other work arrangements, Seatrade Asia online reports. Debt laden China Cosco, the publicly traded shipping line of state-owned China Ocean Shipping (Group) Co., which is listed in Hong Kong and Shanghai, said in a statement that Zhang confirmed he has no disagreement with the board and there is no matter relating to his resignation that needs to be brought to the attention of shareholders.

    Zhang will remain as director of the company, it added.

    Before the appointment, Jiang was the vice chairman and president of Singapore-listed Cosco Corp. (Singapore) Ltd. and deputy general manager of Hong Kong-based port operator COSCO Pacific Ltd.

source:en.portnews.ru