"New Leadership Needed"
Hong Min-taek, the first CEO of internet bank Toss Bank, will step down from his management position next month.
On the 15th, CEO Hong expressed his intention to resign during a communication session with employees, stating, "From the preparation corporation of Toss Bank to turning a profit and becoming a bank with 10 million customers, we have firmly laid the foundation to move toward the future." He added, "I judged that the bank, which is entering a new phase, needs new leadership." He will resign on the 28th of next month after completing his three-year term.
In January 2021, CEO Hong was appointed as the head of the Toss Bank preparation corporation. Since then, he has led both the official approval and growth of Toss Bank. Launched in October 2021, Toss Bank turned a monthly profit in July last year and recorded a net profit in the third quarter. The number of customers increased to 9 million, and assets grew to 25 trillion won. Through nine rounds of paid-in capital increases, the capital size also expanded to 1.94 trillion won.
A Toss Bank official stated, "The Executive Candidate Recommendation Committee plans to promptly proceed with the process of selecting the next CEO within this month." The new CEO will be officially appointed at the regular shareholders' meeting at the end of next month.
Hong Min-taek, CEO of Toss Bank, held a press conference on the 5th at the Conrad Hotel in Yeouido, Seoul, introducing management achievements and more. Photo by Hyunmin Kim kimhyun81@
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