Wei to step down as COSCO chief executive

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Tuesday, August 23, 2011

Wei China COSCO Holdings Co., parent of liner carrier COSCO Container Lines, will this week replace longtime chief executive Wei Jiafu, according to a report by Reuters. Wei will remain as chairman of the country's top shipping conglomerate, while China Shipping Group vice president Ma Zehua will replace Wei as CEO, a company official told Reuters. The official described it as a change of role for Wei, and had nothing to do with his 'capabilities or business perfo...

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