Oct. 19 (Bloomberg) -- Cosco Shipping Co.’s Chairman Xu Lirong resigned today to take up a new position, the company said in a statement to the Shanghai stock exchange, without giving details of Xu’s new job.

Deputy Chairman Liu Shutian will become acting chairman and the company will find a replacement as soon as possible, according to the statement.

To contact the editor responsible for this story: Nerys Avery at navery2@bloomberg.net