James Chao, 96, is stepping back into the role of Foremost Group chairman following the death of his daughter on Sunday in a car crash in Texas.
Angela Chao passed away four days ago. She had been CEO of the shipping company since 2018.
Also returning to the group will be former president Michael Lee, who will take the same position as well as assuming the role of chief operating officer at the New York-based bulker owner.
“Angela Chao was a formidable executive and shipping industry leader, as well as a proud and loving daughter, sister, aunt, wife and mother. She will be greatly missed and leaves a legacy of pioneering leadership – especially for women in shipping, philanthropy and the arts,” the company said in a statement issued earlier this week.
