KT&G Narrows Down to 4 CEO Candidates: Kwon Gye-hyeon, Bang Gyeong-man, Lee Seok-ju, Heo Cheol-ho

Sachu-wi, 4 Finalists Confirmed for 2nd Shortlist
Final Candidates to Be Announced Next Week After In-depth Interviews
"Principle of Maximizing Shareholder Profit" ... Decision at March General Meeting

KT&G announced on the 16th that the President Candidate Recommendation Committee (PCRC) has finalized four candidates for the second shortlist of the next president. The PCRC narrowed down the candidates to four: Kwon Gye-hyun, Vice President of Samsung Electronics; Bang Kyung-man, Senior Vice President of KT&G; Lee Seok-joo, former President of AK Holdings; and Heo Cheol-ho, current President of KGC Ginseng Corporation.

The PCRC reviewed the qualifications and capabilities of the eight candidates on the first shortlist, focusing on whether they meet the five key competencies: management expertise, global expertise, strategic thinking ability, stakeholder communication skills, and universal ethical awareness.

Next week, the PCRC will conduct in-depth face-to-face interviews with these candidates and then finalize and announce the final candidate. The appointment of the next president will be officially decided at the regular shareholders' meeting at the end of next month.

Earlier, KT&G's board of directors formed a Governance Committee on December 28 of last year and began the formal process for selecting the next president. The president selection process involves three stages: the Governance Committee, the President Candidate Recommendation Committee, and approval by the shareholders' meeting.

The KT&G Governance Committee introduced an open recruitment method for selecting the next president, reflecting the opinions of an external expert advisory group. After holding eight meetings, they finalized the first shortlist and recommended it to the PCRC on the 21st of last month.

Kim Myung-chul, Chairman of the PCRC, stated, "The PCRC is doing its utmost to ensure transparency, fairness, and objectivity throughout the evaluation process based on the principle of maximizing the interests of all shareholders and the future value of the company. We will proceed with in-depth interviews and select and announce the most suitable candidate with leadership capable of leading KT&G to a higher level as a global leading company."