COSL names new boss

China Oilfield Services Limited (COSL) has named Qi Meisheng as the new CEO and President of the company following the resignation of its current executive director, CEO, and President, Li Yong. 

COSL’s parent company, China National Offshore Oil Coporation (CNOOC), also made changes in directors and senior management of the company, including the change of its CEO.

On Tuesday, June 14, 2016, the board of directors of COSL received the written resignations from Li Yong in respect of his posts of executive director, CEO, President and the relevant positions in the Board committees; and from Cheng Chi in respect of his posts of non-executive director and the relevant positions in the Board committees.

COSL said that both resignations were due to adjustment of their work arrangements.

Li Yong’s and Cheng Chi’s resignations of directors and their relevant positions in the Board committees will take effect after the appointments of new directors are approved at the first extraordinary general meeting of 2016.

Li Yong’s resignation of CEO and President has taken effect from the conclusion of the Board meeting of the company held on Wednesday, June 15, 2016.

The board appointed Qi Meisheng to replace Li Yong as the CEO and President of the company and also proposed the appointment of Qi Meisheng as an executive director and a member of Nomination Committee of the company as a replacement of Li Yong.

The board also proposed the appointment of Dong Weiliang as an executive director and the appointment of Xie Weizhi as a non-executive director of the company, a member of Remuneration and Assessment Committee of the company as a replacement of Cheng Chi.