Second 4th consecutive chairman of the financial sector… “Dedicated to organizational stabilization”
Hana Bank President Ji Sung-gyu and Lee Jin-guk may replace Hana Geumtu representatives
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Jeongtae Kim (photo) Chairman of Hana Financial Group leads Hana Financial Group for another year. As key candidates, including Vice Chairman Ham Young-joo, are exposed to judicial risk, it is interpreted as a plan for organizational stabilization.
The Hana Financial Group Chairman Candidate Recommendation Committee announced on the 24th that it had recommended President Kim as the sole candidate for the next president after an in-depth interview of the candidate. After being recommended as a presidential candidate for a one-year extension, Chairman Kim said, “With a heavy sense of responsibility, I will devote myself to overcoming the crisis caused by internal and external uncertainties caused by the novel coronavirus infection (Corona 19) and stabilizing the organization of the group.
However, the term of office is until March next year, and the term ends for one year. This is because, according to the internal norms of Hana Financial’s governance structure, the age of the chairman cannot exceed the age of 70.
Chairman Kim joined the Seoul Bank in 1981 and has been in the banking sector for over 40 years. He served as the president of Hana Daetoo Securities in 2006 and the head of Hana Bank in 2008.After becoming the chairman of Hana Financial Group in 2012, he succeeded in reappointing in 2015 and 2018, leading Hana Financial Group for 9 years.
At the beginning, after successful three consecutive tenures, Chairman Kim has expressed his intentions several times, either directly or indirectly, that he will not continue to serve additionally. However, ahead of the appointment of the next chairman, the leading candidates were exposed to judicial risk. Vice-Chairman Ham was involved in the incident of corruption in the employment of Hana Bank, and the trial is in progress. He has received a’response warning’ from financial authorities regarding the incomplete sale of a derivative-linked fund (DLF) linked to overseas interest rates. Lee Jin-kook, vice chairman of Hana Finance and CEO of Hana Financial Investment, is also being investigated for pre-sale of stocks.
In addition, it is analyzed that the opinion that stable leadership is necessary as the uncertainty in the financial environment increases due to the prolonged corona19, and that Chairman Kim received a’one year re-confidence’. In the financial sector, Chairman Kim will become the second four consecutive presidents after Ra Eung-chan, former chairman of Shinhan Finance.
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At the time of his third consecutive term, Chairman Kim was confronted with the financial authorities, but this time the financial authorities took a neutral stance. Earlier, Eun Seong-soo, chairman of the Financial Services Commission, said, “It is not appropriate for the financial authorities to comment on the possibility of Kim’s reappointment,” and said, “I will respect the judgment of the (Hana Financial) board of directors and the committee.” Financial Supervisory Governor Yoon Seok-heon also said, “It is difficult to say anything about the judgment of the condolences, and I hope that the procedure will be transparent.”
In accordance with the’CEO and Chairman’s Management Succession Plan and Candidate Recommendation Procedure’, the Huichu Committee will answer questions about interview evaluation factors such as entrepreneurship, expertise and experience, global mind, vision, mid to long-term management strategy, network, and other qualities. Said that they have verified them. On the 15th, the Hoe-Chu Committee condensed four candidates, including Chairman Kim, Vice Chairman Ham, Park Seong-ho, vice president of Hana Bank, and former Citi Bank Korea President Park Jin-hoe, into a candidate group (short list).
Hoe Chuwi evaluated that Chairman Kim, who took office in 2012, has been stably leading the group and has been recognized for his outstanding performance from shareholders, customers, and employees. In fact, during his three consecutive years, Chairman Kim stood out in the non-banking and global sectors with improved performance. Hana Financial Group recorded a net profit of KRW 2.67 trillion, up 10.3% from the previous year, despite the bad news of Corona 19 last year. This is the highest performance ever.
Hana Financial Group Chairman Yoon Seong-bok said, “In the aftermath of Corona 19, we can actively respond to organizational stability and rapidly changing financial markets in a situation where economic uncertainty persists at home and abroad, and the Group’s global and environmental, social, and governance Chairman Kim, who has the ability to achieve sustainable growth, is the best candidate.”
Chairman Kim, who was recommended as a single candidate on this day, is scheduled to be finally elected as the next CEO and chairman of the term of office after going through the next month’s board of directors and regular shareholders’ meetings.
/ Reporter Kim Hyun-jin [email protected]
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