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2011 August 23   13:16

Wei Jiafu to stand down as Cosco chief

Leading Chinese shipping executive Wei Jiafu is stepping down as ceo of China Cosco Holdings, Seatrade Asia online reports.Wei will be replaced by China Shipping Group vice president Ma Zehua. Wei, 61, will remain as chairman of Cosco Group, officials tell Seatrade Asia.
Cosco is one of a number of state owned firms entering a period of leadership change. Wei has passed his retirement age.

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