Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Cosco Singapore president 'retires'

Cosco Singapore president 'retires'

Singapore: Ji Hai Sheng (pictured), vice-chairman, president and executive director of Cosco Corp Singapore, the shipbuilding and repair unit of China's biggest shipping company, has stepped down with effect from today. The announcement, revealed in a company announcement to the Singapore Exchange, describes the move as a 'retirement'.

Jiang Lijun, Cosco Shipping ceo is to take over as vice-chairman and president of the company from Ji, who has also relinquished his responsibilities as a member of the nominating, remuneration and enterprise risk management committees.

Local newspaper The Straits Times has reported Ji as revealing, in a telephone interview, that he was informed of the board's decision only yesterday. He declined to give details such as the reason for his departure or his plans.

Shares in Cosco Corp. Singapore have fallen to S$2.51, the lowest price in 17 months of Singapore trading following the announcement, Bloomberg reports.  [07/08/08]

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish