The board of directors of COSCO Pacific Limited announced that with effect from 27 April 2016: Mr. QIU Jinguang has resigned as an executive director and the vice chairman and managing director of the company, and also resigned as an authorised representative of the company. Mr. ZHANG Wei, a non-executive director of the company, has been re-designated as an executive director of the company and appointed as the vice chairman and managing director, an authorised representative, a process agent, the chairman of the executive committee, the investment and strategic planning committee and the risk management committee, and a member of the nomination committee and the remuneration committee of the company; and Mr. FANG Meng has been appointed as an executive director, a deputy managing director and a member of the executive committee of the company. Mr. ZHANG Wei, aged 42, has been an executive director, the vice chairman and managing director of the company since April 2016.

Before re-designation, he was a non-executive director of the company since August 2015. He is the chairman of the Executive committee, the investment and strategic planning committee and the risk Management committee, and a member of the nomination committee and the remuneration committee of the company. He is currently a director of certain subsidiaries of China Ocean Shipping (Group) Company (a controlling Shareholder) and China COSCO Holdings Company Limited (China COSCO).

Mr. ZHANG joined COSCO group in 1995. He was the assistant manager, deputy manager and manager of pricing department of marketing and sales division of COSCO Container Lines Company Limited, executive deputy general manager of america trade division of COSCON, executive vice president of COSCO Container Lines Americas Inc., general manager of strategy and development division of COSCON, general manager of the operating management division of China COSCO and general manager of the operating management division and executive deputy director of the integration management office of China COSCO Shipping Corporation Limited. Mr. FANG Meng, aged 57, has been an executive director and a deputy managing director of the company since April 2016.

He is also a member of the Executive committee and a director of certain subsidiaries of the company. Currently, Mr. FANG is the managing director of China Shipping Ports Development Co. Ltd. He was the manager of science and technology department of enterprise managing division, the deputy general manager of enterprise managing division of China Shipping (Group) Company and the managing director of China Shipping International Trading Co.

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