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Wei steps down from Singapore duties

Wei steps down from Singapore duties

Singapore: COSCO Corp said on Monday its chairman Wei Jia Fu will step down from his post on Tuesday due to his engagement as president of China Ocean Shipping (Group) and chairman of China COSCO Holdings. The company has appointed Li Jian Hong as its new chairman, a statement said.

COSCO Corp is the listed Singapore vehicle whose broad remit includes the conglomerate's shipyard arm. Capt Wei has persistently been linked to higher political postitons, most recently as a potential governor of Jiangsu province. [22/7/08]

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