[Asia Economy Reporter Kwon Jae-hee] The Seoul Metropolitan Government announced on the 30th that it has accepted the resignation letter submitted by Lee Kang-taek, CEO of TBS.
Lee's term was until February next year, and he had been facing calls for resignation from the TBS Labor Union and others. He had previously submitted his resignation to the Seoul Metropolitan Government on the 15th of this month due to health reasons.
After investigating allegations against Lee, the Seoul Metropolitan Government concluded that there was no issue with accepting his resignation and decided to process it as a voluntary resignation.
According to TBS executive personnel regulations, the appointing authority (the Mayor of Seoul) must restrict voluntary resignation of executives under investigation or prosecution for misconduct.
Lee was investigated by the prosecution on charges of wage arrears for not paying internal performance bonuses for 2020.
The Executive Recommendation Committee (ERC) for selecting the next CEO will be formed as the TBS Board of Directors recommends members.
The ERC is composed of members recommended by the Mayor of Seoul (2 members), the TBS Board of Directors (2 members), and the Seoul Metropolitan Council (3 members). The TBS Board of Directors has not yet nominated any members. The city expects the TBS Board of Directors to recommend members in December.
It usually takes about two and a half months for the ERC to shortlist candidates. The Mayor of Seoul selects the CEO from among two or more candidates recommended by the ERC. Accordingly, a new CEO is expected to be appointed around January to February next year.
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