Cosco appoints Liu Guo Yuan Chairman
Li Jian Hong vacated the post after his appointment as president of China Merchants Group.
The Board of Directors of COSCO Corporation (Singapore) Limited (“COSCO” or the “Company”) has appointed Mr Liu Guo Yuan as the Chairman, Non-Independent and Non-Executive Director of the Company in place of Mr Li Jian Hong with effect from 1 September 2010, according to a Cosco report.
Mr. Liu Guo Yuan, born in 1951, started his career in 1975. Currently, Mr. Liu is General Counsel/Chief Legal Officer of COSCO Group head office and China COSCO Holdings Company Ltd. He is also a certified senior economist and an arbitrator of the China Arbitration commission.
In 1975, Mr. Liu graduated from Beijing Foreign Languages Institute and joined COSCO H.Q. as a fleet operation planner in the shipping department. From 1980 to 1982, he studied and acquired master degree (LLM) in the Law School of University of Washington Seattle U.S.A. Since 1982, he had worked as manager, director and deputy managing director in departments of Shipping, Law & Policy Research, Administration, Corporate Planning & Strategy. In early 1990s, he was promoted as the Senior Commercial Director of COSCO H.Q.
In 1993 he became the deputy managing director of COSCO Tianjin. From 1998 to 2000, he was vice president and president of COSCO Europe.
From 2000 to 2008, Mr. Liu was nominated separately the Executive Vice-Chairman & President of COSCO (Hong Kong) Group Ltd., the Executive Vice Chairman of COSCO International Holdings Ltd, Executive Director & Vice Chairman of COSCO Pacific Ltd., a Non-Executive Director of China COSCO Holdings Company Ltd and a Non-executive director of the Chong Hing Bank Ltd, Chairman and Executive Director of COSCO (H.K.) Shipping Co., Ltd. Etc. Mr. Liu was also nominated by the HKSAR Government member of Hong Kong Port Development Council, the Hong Kong Maritime Industry Council, the Hong Kong LOGSCOUNCIL, and an Investment Promotion Ambassador (IPA) He was the Vice Chairman of Hong Kong Shipowners’ Association, Vice Chairman of the Hong Kong Chinese Enterprises Association as well as a Council member of the Hong Kong General Chamber of Commerce and the Hong Kong Management Association. On July 1 2007, Mr. Liu was appointed by HKSAR Chief Executive as the Justice of Peace (JP).
Mr Li Jian Xiong has been appointed as the Alternate Director to Mr Liu Guo Yuan with effect from 1 September 2010.
Mr Li Jian Hong, Chairman of the Company, has been appointed as the President of China Merchants Group Limited. Consequent to this appointment, Mr Li Jian Hong has decided to resign as the Chairman, Non-Independent and Non-Executive Director of the Company with effect from 1 September 2010.
Upon the resignation of Mr. Li Jian Hong as the Chairman, Non-Independent and Non-Executive Director of the Company, Mr Li Jian Xiong shall cease to be the alternate director to Mr Li Jian Hong with effect from 1 September 2010.
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