COSCO SHIPPING Development Co., Ltd. (Stock Code: 02866) disclosed that its board of directors has proposed the nomination of Mr. Zheng Xiaozhe, aged 53, as a non-executive director, following a recommendation by China COSCO SHIPPING Corporation Limited and the board’s nomination committee. The proposed appointment is subject to approval by the company’s shareholders at an extraordinary general meeting to be convened in due course.

Mr. Zheng’s career includes positions within the China Insurance Regulatory Commission and roles such as Deputy General Manager of China United Property Insurance Co., Ltd. He also served as General Manager, Chairman, and Party Secretary of COSCO SHIPPING Captive Insurance Co., Ltd. Mr. Zheng graduated from Renmin University of China with a Master of Laws degree. If approved, he will serve until the end of the current board session without receiving any remuneration for his non-executive directorship. A circular detailing this proposal and containing a notice of the extraordinary general meeting will be issued to shareholders in due course.