According to the shipping industry news, COSCO former chairman Wei Jiafu has quietly ended his retirement life. According to the report, he recently announced to be located in the United States, Pasadena, California City, the company's acquisition of Apollo merger, the company's chief executive officer.

It is understood, a Appollo company founded in 2006, is a shell company. The company has no assets and no ordinary income. It seems to be a special purpose of M & a company, the company did not disclose its specific tasks, and in addition to Wei Jiafu has been in the shipping industry, shipbuilding industry and terminal operations leadership experience, the company has no clear information display will be set as the target.

According to the company's annual report, the company plans to find a company located in Asia, South America or Eastern Europe, and the Target Corp to have business history and development potential, so that the U.S. capital market and the growth of emerging markets can be closely linked.

July 1, 2013, because of the reasons for the age of Wei Jiafu, chairman of the board of directors of cosco. Prior to that, because China Ocean in his tenure, huge losses for two consecutive years 200 billion yuan, 2013 if not losses will face delisting risk, Wei Jiafu will also be investors crown in hats "A-share loss is the biggest listed company chairman and repeated being called for the responsibility.

Is said to due to prepare due to the expiration age long retired, Wei Jiafu in the morning farewell is relatively calm, but in the Central Organization Department announced the outgoing meeting, Wei Jiafu once choked.

Wei Jiafu retired suspected, the market also basic speculation the retirement due to the huge losses caused by, but COSCO explain just normal personnel changes, in accordance with the provisions of the Organization Department of the CPC Central Committee and the state owned assets supervision and Administration Commission, the central enterprises vice ministerial level managers retirement age is 60 years old, special circumstances can be extended to 63 years old. In fact, Wei Jiafu was born in 1950, has served more than 3 years of age.

15 years experience of COSCO head let Wei Jiafu become the shipping industry's most senior leaders of central enterprises. High-profile, "love out of the limelight, he once saved the COSCO Group in danger, however, due to the shipping market downturn duration judgment too optimistic, resulting in the huge loss of COSCO, finally top the infamy cloudily off.