Next CEO to Be Recommended by Daemyung Sono
New Inside Directors Expected to Be Former Korean Air Executives
Jung Hong-geun, who has led T'way Air for nearly 10 years and is being acquired by Daemyung Sono Group, will end his term at the end of this month. He is regarded as the longest-serving CEO among domestic low-cost carriers (LCCs). The new CEO is expected to be appointed from among the candidates entering the board of directors through the regular shareholders' meeting on the 31st, recommended by Daemyung Sono.
According to the aviation industry, Jung announced in an email sent to T'way Air employees on the 14th, "I will leave the company after the shareholders' meeting on March 31." He served for over nine years through three consecutive terms, holding the longest tenure among the nine LCC CEOs.
Jung said, "It would have been impossible to fulfill my duties as the longest-serving LCC CEO without your active help and support," adding, "I am truly grateful and relieved to step down without any major issues."
Jung Hong-geun, CEO of T'way Air, is answering questions from the press at the 'CHANGE BEGINS with A330' media day event commemorating the introduction of Airbus's A330 model, held on the 17th at the parking area of Gimpo International Airport in Gangseo-gu, Seoul. Photo by Airport Photographers Group
He continued, "Although I would have liked to wrap things up a bit more with many employees, T'way Air will now welcome a young and alert new management team, enabling it to transform and further establish itself as a successful LCC in long-haul operations."
The next CEO is expected to be chosen from among three new inside director candidates recommended by Daemyung Sono, all former Korean Air executives: Lee Sang-yoon, head of the Aviation Business Task Force (TF); Ahn Woo-jin, head of Sales and Marketing; and Seo Dong-bin, head of the Aviation Business TF.
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