Shareholder-Management Communication 'Open General Meeting'
All Four Agenda Items Including Director Appointment Approved
Maintaining 50% Female Outside Director Ratio
Jang Deok-hyun, President of Samsung Electro-Mechanics, directly conducted the regular shareholders' meeting presentation at 9 a.m. on the 15th at Elta One in Yangjae-dong, Seoul, revealing the company's vision. He stated that the company will focus its capabilities on growth industries such as servers and automotive electronics and prepare for long-term businesses like robotics and energy.
Jang Deok-hyun, President of Samsung Electro-Mechanics, speaking at the shareholders' meeting. [Photo by Samsung Electro-Mechanics]
On this day, Samsung Electro-Mechanics explained that President Jang changed the stiff atmosphere of the shareholders' meeting by personally sharing the company's vision with the shareholders. President Jang provided detailed explanations about the company's management status and future vision to the shareholders.
President Jang said, "Last year, although performance declined compared to the previous year due to a difficult management environment such as the global economic slowdown, we achieved results in restructuring our high value-added business portfolio, with the automotive electronics business portion expanding to double digits."
He also said, "We will diversify our business structure by focusing our capabilities on growth industries such as servers and automotive electronics in our core businesses like MLCC, camera modules, and semiconductor substrates. We will also simultaneously prepare for future markets such as robotics and energy to leap forward as a top-tier technology components company."
This year, Samsung Electro-Mechanics celebrates its 50th anniversary. President Jang said, "We will make this year the first year of preparing to become a 100-year company."
At the shareholders' meeting, agenda items such as reports, approval of financial statements, appointment of outside directors, appointment of audit committee members, and approval of director remuneration limits were passed as originally proposed. Director Choi Jong-gu was newly appointed as an outside director. Director Yeo Yoon-kyung was reappointed. Director Kim Jun-kyung stepped down due to the expiration of his term.
Yeo Yoon-kyung, Outside Director of Samsung Electro-Mechanics. Photo by Samsung Electro-Mechanics
The Samsung Electro-Mechanics board of directors consists of three inside directors and four outside directors. Within the board, six subcommittees are established and operated: the Management Committee, Audit Committee, Outside Director Candidate Recommendation Committee, Internal Transactions Committee, Compensation Committee, and ESG Committee.
Since 2014, female outside directors have been appointed. By reappointing Director Yeo Yoon-kyung at this shareholders' meeting, the proportion of women was maintained at 50%.
In 2016, Samsung affiliates outside the financial sector appointed an outside director as the chairperson of the board for the first time to strengthen the board's independence. Currently, outside director Kim Yong-gyun serves as the chairperson. All subcommittees within the board, except for the Management Committee, are composed entirely of outside directors to enhance the transparency of the board.
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