COSCO appoints Li Yun Peng as chairman
He will replace Ma Ze Hua who will step down because of the rotation of key management talent by the COSCO group among its business units.
COSCO announced the appointment of Li Yun Peng as chairman and non-independent, non-executive director.
Mr Li, 54, was director of Board, president and Party Committee member (July 2013 until his appointment) executive vice president and Party Committee member (December 2011 to July 2013), and Party Committee member and director of Party Disciplinary Inspection Office (April 2005 to December 2011) in China Ocean Shipping (Group) Company, according to a COSCO report.