Matson chief executive Matthew Cox is taking the reins of the Hawaii containership owner's board of directors, replacing Walter Dods as chairman.

The New York-listed company said that Dods makes for the exit door today at the conclusion of the annual meeting because he has reached the age limit for the job.

"In my nearly 30 years associated with Matson, I've never felt stronger about its leadership and long-term prospects," said Dods. "Matt,