Breaking news POSCO Chairman Jeong-woo Choi confirmed to be reappointed… Strengthening the secondary battery hydrogen business

POSCO Chairman Jeong-woo Choi, who has been under pressure from the political circles and civic groups, has confirmed the succession.

POSCO was presented at the POSCO Center in Daechi-dong, Seoul on the 12th.53The annual general shareholders’ meeting was held and six agendas were passed, including the appointment of internal and external directors, including Chairman Choi, and the appointment of audit committee members, amendment of the articles of incorporation, and approval of the compensation limit for directors. Chairman Choi’s term of office is three years.

At the shareholders’ meeting that day, Chairman Choi said, “Although a difficult business environment is expected this year, we will solidify our steel profitability and lay the foundation for future growth, such as rechargeable battery materials and hydrogen business.”

POSCO’s board of directors last year 12May Chairman Choi, the next Chief Executive Officer (CEO) The agenda to be recommended to the shareholders’ meeting as a candidate was unanimously resolved. Chairman Choi also expressed his willingness to remain in office, saying, “I will focus on recovering profitability,” in a letter to shareholders ahead of the shareholders’ meeting.

However, as a series of personal accidents occurred in POSCO, some of the ruling party, civic groups, and metallurgical unions expressed their opposition to the reappointment of Chairman Choi every day. On this day, civic groups such as the Metallurgical Union of the Participation Solidarity held a demonstration in front of the main gate of POSCO.

The agenda was also passed at the shareholders’ meeting to appoint Chung Chang-hwa as the new executive director, and reappoint Kim Hak-dong, head of the steel division, Jeon Joong-sun, head of the global infrastructure division, and Jeong Tak, the head of the marketing division, as internal directors.

Vice President Chung, who was newly appointed as executive director, graduated from Wayne State University in Economics and completed a Ph.D. in Economics at Northwestern University. He served as the head of the POSCO PR department, the head of the public relations department, the head of the representative corporation of POSCO-China, and the head of the management support division.

Young-sook Yoo, senior researcher at the Korea Institute of Science and Technology, and former Ambassador of the United Arab Emirates Kwon Tae-gyun were newly appointed as outside directors, and Kim Seong-jin, the current outside director, was reappointed. Director Yoo is POSCO’s first female outside director.

Reporter Mansoo Choi [email protected]

Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution