For the first time in the history of Hyundai Motor Group, it will appoint a female outside director this year.
According to industry sources on the 19th, Hyundai Mobis is planning to propose an agenda to recommend Kang Jin-ah, a professor at Seoul National University’s Graduate School of Technology Management, Economics and Policy, as the first female outside director candidate at the general shareholders’ meeting scheduled for next month.
Professor Kang is an expert who has been active in the field of technology management and management innovation for nearly 30 years, and has been evaluated for excellent understanding of the automobile industry, such as taking the founding director of the Korean Mobility Society.
Professor Kang will also be appointed as an audit committee member.
This is the first time that Hyundai Mobis has recommended a female outside director candidate.
Until now, it is known that no female outside director has been appointed within the Hyundai Motor Group.
Jeong Seong, the elder sister of Hyundai Motor Group Chairman Eui-sun, is an internal director.
As the amendment of the Capital Markets Act made the appointment of female directors an essential factor, it is noteworthy whether such an atmosphere could spread to other affiliates within the group, such as Hyundai Motor Company.
The new Capital Market Act, which will take effect in August 2022, prevents the board of directors of listed corporations with assets of KRW 2 trillion or more from consist of only a specific gender, in effect, including at least one female director.
Hyundai Motor Company and Kia are scheduled to go through the board of directors in the near future to finalize and disclose the shareholders’ agenda.
Meanwhile, Hyundai Mobis recommended Ko Young-seok, head of the R&D Planning and Operation Dept. (Executive Director) as a new executive director, in order to consider expertise rather than position.
This is the first time that a senior executive has been recommended as an executive director.
President Sung-Hwan Cho was newly appointed as the executive director and CEO, and Hyung-geun Bae, vice president in charge of finance, decided to reappoint.
Hyundai Mobis also decided to broadcast this shareholders’ meeting live online, fearing the new coronavirus infection (Corona 19).
Following last year, the electronic voting system will be held again this year.
The dividend was set at 4,000 won based on common stock as last year.
Along with this, it plans to purchase 426 billion won of treasury stock this year and cancel 62.5 billion won of treasury stock.
/yunhap news
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