COSL CEO Resigns

COSL CEO Resigns
China Oilfield Services Limited has revealed that its chief executive officer and president has resigned.

China Oilfield Services Limited (COSL) has revealed that its chief executive officer (CEO) and president, Cao Shujie, has resigned.

The resignation was due to the adjustment of Shujie’s work arrangements, according to a company statement. Shujie will remain an executive director of COSL, the company confirmed.

COSL outlined that its board is currently the course of identifying suitable candidates to replace Shujie and said it will make further announcements upon the appointment of the positions.

“Mr. Cao Shujie has confirmed that he has no disagreement with the board and there is no matter that needs to be brought to the attention of the shareholders of the company and The Stock Exchange of Hong Kong Limited regarding to his resignation,” COSL said in a company statement posted on its website.

“During his tenure as the CEO and president of the company, Mr. Cao Shujie, with years of rich industry and management experience in the oil and gas field, worked diligently and practically to fulfill his duties and made important contributions to the development of the company,” COSL added in the statement.

“The board expresses its heartfelt gratitude to Mr. Cao Shujie,” the company continued.

Shujie became the CEO and president of COSL in March 2018. He became the company’s executive vice president in January 2017. Born in 1964, Shujie graduated from East China Petroleum Institute in 1987 and received an MBA and EMBA degrees from Tianjin University and China Europe International Business School, respectively.

COSL describes itself as the leading integrated oilfield services provider in the Asian offshore market. Based in Beijing, COSL has the largest and most diverse offshore oilfield services facilities in China, according to its website.

COSL is headed by chairman Qi Meisheng, who has been working in the oil and gas sector for more than 27 years.

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