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[Alpha Biz=(Chicago) Reporter Kim Jisun] KT & G entered the process of appointing the next president on the 28th. Baek Bok-in, who has been leading KT & G for nine years after winning three consecutive terms in 2021, will expire in March next year. Attention is also focusing on whether President Baek will run for his fourth consecutive term
KT & G's board of directors and governance committee announced on the 28th that they focused on the plan to select candidates for the president and the criteria for screening candidates for the president. The governance committee, a committee within the board of directors, consists of all outside directors, and the board only attended outside directors for independent decision-making.
The process of appointing the president of KT & G will be carried out transparently in the three-stage process of 'the governance committee - president candidate recommendation committee - report to the board of directors and approval of the general meeting of shareholders' for about three months in accordance with related laws and articles of association.
The outside presidential candidate pool (Pool) consists of candidates who meet the qualifications through open recruitment and search firm recommendation methods. The in-house presidential candidate pool will consist of those eligible for the "High-Level Management Promotion Program" that KT & G has been operating since 2020. The governance committee will decide on the presidential candidate group after a fair screening among the pool of candidates for outside and in-house presidents.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
