Ma Zehua has resigned from his positions as the chairman of the board and non-executive director of China Cosco, effective today.
He will also no longer be chairman and a member of the board’s executive committee, a filing to the Hong Kong stock exchange said.
Wan Min, one of China Cosco’s non-executive directors, has been appointed as the group’s chairman, and will also replace Ma in his positions on the executive committee.
“Mr. Ma Zehua has confirmed that he has no disagreement with the board, and there is no other matter in respect of his resignation that needs to be brought to the attention of the shareholders of the company,” China Cosco commented.
Ma replaced Wei Jiafu as the company’s chairman, chief executive officer in July 2013, having previously been China Cosco’s president.