The board of directors of China Shipping Development Company Limited announced that Mr. Han Jun, an executive Director, has tendered his resignation as the general manager of the Company with effect from 5 August 2016 due to the Group's redeployment of human resources. The Board announced that the Board has resolved to appoint Mr. Liu Hanbo as the General Manager with effect from 5 August 2016, Mr. Liu is also proposed to be appointed as an executive Director subject to the Shareholders' approval at the upcoming extraordinary general meeting which is expected to be held on 19 September 2016. Mr. Liu has served as the deputy general manager of COSCO Dalian Industries Company, the deputy director of the Development Department and the head of Operation and Management Department of Dalian Ocean Shipping Company Limited, the general manager of COSCO Dalian Industries Development Company, the deputy general manager of the Development Department, the general manager and director of Assets Operation Center of China Ocean Shipping (Group) Company, the vice president of COSCO (Hong Kong) Group Limited, the general manager of COSCO (H.K.) Industries and Trade Holdings Ltd., the general manager of COSCO International Holdings Ltd., the deputy general manager of Dalian Ocean Shipping Company Limited, the president of China Ocean Shipping Company Americas Inc., the general manager of China COSCO Bulk Shipping (Group) Co. Ltd., and the general manager of COSCO SHIPPING Bulk Co. Ltd.