Cosco-owned Orient Overseas (International) Limited (OOIL) has appointed a new CEO after Huang Xiaowen resigned.

Director Wang Haimin, 47, is the new man in the top job at the Hong Kong company.

He is also co-CEO of OOIL vessel operating company OOCL, with Andy Tung.

The board thanked Huang for his "valuable contribution."

Wang has been with OOIL since last August.

He is also currently the executive vice president and the party committee member of China Cosco Shipping, which bought OOIL.

And he is also vice chairman and an executive director of Cosco Shipping Holdings.

Wang has over 20 years of experience in corporate management in the shipping industry, OOIL said.

"He has extensive experience in container shipping, operation of terminal and enterprise management," it added.