COSL president and CEO resigns

President and chief executive officer (CEO) of offshore drilling contractor China Oilfield Services Limited (COSL) has submitted his resignation to the company’s board of directors.

COSL said that its CEO Cao Shujie submitted his written resignation to the board on 29 June 2020.

The resignation is effective immediately with Cao staying with the offshore driller as an executive director.

According to the company, Cao’s resignation was due to the adjustment of his work arrangement within COSL.

The company added that he confirmed that there was no disagreement with the board and that there was no matter that needs to be brought to the attention of the shareholders of the company and the Hong Kong Stock Exchange regarding his resignation.

“The board is in the course of identifying suitable candidates as the new CEO and the president of the company and will make further announcement upon the appointment of the positions”, COSL stated.

He held these roles since March 2018 when he succeeded Qi Meisheng as the CEO and president of the company. Meisheng was the CEO of COSL since June 2016.

Before joining COSL, Cao was the drilling team leader, deputy superintendent, vice rig manager and rig manager in Bohai Oil Drilling Corporation and China Offshore Oil Northern Drilling Company from July 1987 to November 2001.

From November 2001 to April 2006, he was the deputy general manager of the drilling division of COSL. Between April 2006 and March 2010, he was promoted to the drilling division’s general manager role. Cao was then appointed as vice president from March 2010 to December 2016.

His last role in the company before taking on the president and CEO roles was the position of executive vice president, a role he occupied since January 2017.