Held at KT&G Daejeon Talent Development Center
Appointment of 2 Directors and Outside Directors
KT&G announced on the 28th that it will hold a shareholders' meeting on the 28th of next month at the KT&G Headquarters Talent Development Center in Daedeok-gu, Daejeon, to propose the appointment of Bang Kyung-man as the next CEO, among other agenda items.
At the board meeting held on the same day, KT&G resolved to hold the shareholders' meeting with these matters and announced the convocation of the meeting. At this shareholders' meeting, agenda items such as approval of financial statements and appropriation of retained earnings, partial amendments to the articles of incorporation, appointment of two directors (cumulative voting), appointment of outside directors to the audit committee, and approval of the director remuneration limit are expected to be proposed.
The KT&G board decided, following shareholder proposals, to appoint two directors from four candidates through cumulative voting. Accordingly, it resolved to propose the appointment of CEO candidate Bang Kyung-man, outside director candidate Lim Min-gyu, outside director Son Dong-hwan proposed by the Industrial Bank of Korea, and outside director Lee Sang-hyun proposed by Agnes as agenda items.
Bang Kyung-man, the next CEO candidate currently serving as KT&G's General Manager, was recommended as the optimal candidate to lead KT&G's leap to a global top-tier company by transcending market limitations based on his insight into overall business operations. He received high evaluations for creating results through differentiated strategies and execution, securing brand competitiveness in the domestic market with strategies based on excellent analytical skills, and achieving visible outcomes in the global market.
Outside director candidate Lim Min-gyu has experience successfully leading large listed companies as CEO of OCI Materials and SK Materials and possesses expertise in organizational management, risk management, and sustainable management. His experience as head of the Petrochemical Division at Samsung C&T and head of the Paris branch of Samsung C&T's trading division has been highly valued for his understanding of supply chains and overseas markets.
Outside director candidate Kwak Sang-wook, a legal advisor at the law firm Hwahaeon and a candidate for the audit committee, has experience as head of the Criminal Division at the Supreme Prosecutors' Office and as an audit committee member at the Board of Audit and Inspection. He has established proper management directions for various institutions through audits in areas such as public institution management improvement, management practices, and cybersecurity management. His experience as an outside director at KB Asset Management and chairman of the audit committee at Korea University has also been highly regarded.
A KT&G official stated, "The company always respects the legitimate exercise of shareholder rights," and explained, "At this shareholders' meeting, we decided to propose all shareholder proposal agenda items without objection, respecting the intent of the shareholder proposals." He added, "We are actively communicating with shareholders and other stakeholders about KT&G Group's future vision and growth strategy," and "We will continue to do our best to maximize the interests of all shareholders and the company's value from a long-term perspective."
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