Co-Chief Executive Officer at Hong Kong’s OOCL, Andy Tung, will step down from the role at the end of the year, it has been announced.
The announcement, made through a note to the Hong Kong Stock Exchange, said Mr Tung will cease to be a member of the company’s Executive Committee and an authorized member of the company with effect from 1 January 2020. He will, however, be retained as non-executive member of the Finance Committee, the Inside Information Committee and the Risk Committee of the company.
Mr Tung was at the helm of Orient Overseas (International) and chief executive of OOCL, when it was acquired by Cosco Shipping for US$6.3bn in July 2017, joined the Executive Committee in 2006.
Mr Tung’s absence from the head of the company means that Zhijian Yang, who is also the general manager of Cosco Shipping, will now be the sole chief executive officer of OOCL. The move takes place as OOCL celebrates its 50th anniversary.
Source:hongkongmaritimehub
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