Approval of New Appointment of Inside Director and Others at the Regular General Meeting on the 28th
Kyochon F&B, the operator of Kyochon Chicken, has appointed Vice Chairman Song Jong-hwa as the new CEO.
On the 28th, Kyochon F&B held the 25th regular shareholders' meeting at its headquarters in Chilgok-gun, Gyeongsangbuk-do, and officially appointed Vice Chairman Song as the new CEO.
At the shareholders' meeting, six agenda items were approved as originally proposed: ▲appointment of Vice Chairman Song as an inside director ▲approval of the financial statements for the 25th fiscal year (January 1 to December 31, 2023) ▲approval of partial amendments to the articles of incorporation ▲approval of director appointments ▲appointment of outside directors as audit committee members ▲appointment of audit committee members ▲approval of the director remuneration limit.
Kyochon F&B appointed Vice Chairman Song as CEO and chairman of the board on the same day. The newly appointed CEO Song served as General Manager and President of Kyochon F&B from 2003 to 2012 and returned to the front lines of management as Vice Chairman in September last year. He is recognized as a franchise expert who overcame the crisis in the chicken franchise market caused by the avian influenza outbreak in the early 2000s and elevated Kyochon Chicken to the leading chicken brand.
While serving as an executive, Vice Chairman Song led the entry into the U.S. and Chinese markets and is credited with opening the way for K-franchise overseas expansion. In the domestic chicken market, he launched blockbuster new products such as the Honey Series, laying the foundation for Kyochon’s growth. The company expects CEO Song to leverage his unique leadership and crisis management capabilities to prepare a platform for a new leap forward.
CEO Song stated, “I will approach my duties with urgency to overcome various internal and external crises such as economic downturn and consumer recession,” adding, “Through continuous management innovation, I will accelerate structural improvements, focus on strengthening brand competitiveness and securing future growth engines, and dedicate my passion to growing Kyochon into a 100-year company.”
Under the leadership of newly appointed CEO Song, Kyochon F&B plans to accelerate its global market expansion this year and continuously expand new businesses such as ‘Memildanpyeon,’ creating synergy with its core business to maximize sales and profits.
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