Hong Kong-listed terminal operator Cosco Shipping Ports announced that Feng Boming has resigned as its executive director and chairman to take up the position of deputy general manager at China Merchants Group, another state-run ports giant.
Feng, aged 52, was appointed in September 2019. Before the re-designation, he had been a non-executive director of the company from October 2016 to September 2019 and had served in various roles within Cosco Group.
“Following the resignation of Mr Feng, the company is looking for a suitable candidate to fill the vacancy of the chairman of the board as soon as possible,” the port operator said in a stock exchange filing.
Cosco Shipping Ports is one of the world’s leading terminal operators with a portfolio covering the five main port regions in Mainland China, Southeast Asia, the Middle East, Europe, South America and the Mediterranean. The company currently operates and manages 367 berths at 37 ports worldwide, of which 220 are for containers, with a combined annual handling capacity of 122m teu.