Kakao CEO Jung Shina Likely To Be Reappointed...To Be Finalized At Next Month's Shareholders' Meeting (Update)

Board Approves Reappointment...To Be Finalized at Shareholders' Meeting on the 26th Next Month

The reappointment of Kakao CEO Jung Shina, whose term ends in March this year, has effectively become highly likely.

On the 11th, Kakao announced in a public filing that its board of directors had resolved an agenda item to reappoint CEO Jung for a new two-year term.

This agenda item is expected to be finalized at the annual general meeting of shareholders to be held on March 26. CEO Jung’s current term, which began in March last year, runs until the end of next month.

The reappointment proposal is expected to pass smoothly at the shareholders’ meeting, as Kakao’s performance last year is projected to have reached an all-time high. Securities firms estimate Kakao’s revenue for last year at about 8.0847 trillion won and its operating profit at about 683 billion won.

Kakao is scheduled to announce its full-year and fourth-quarter results for last year on the 12th.