Finalized short list of final candidates
One final candidate will be selected at the end of this month
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As Hana Financial Group’s next president-elect candidate is compressed to four, including Chairman Kim Jong-tae, the weight of Chairman Kim’s’one year re-confidence’ is weighing on.
Hana Financial Group’s Chairman Candidate Recommendation Committee (hereinafter referred to as the Hoichu Committee) held a meeting on the 15th and announced that four final candidates, including Chairman Kim, Vice Chairman Ham Young-ju, Park Sung-ho, vice president of Hana Bank Digital Retail Group, and former Citi Bank Korea President Park Jin-hoe, were confirmed as final candidates.
In the future, the Huichu Committee plans to confirm the candidate for the next CEO and president through in-depth interviews with the final candidates. Chairman Kim’s tenure is until the regular shareholders’ meeting in March. As a new president must be appointed two weeks before the shareholders’ meeting, one final candidate will be selected by the end of February at the latest.
After the selection of a search firm in January, the Hoe Chun Committee selected 14 candidates (9 inside and 5 outside) and compressed it into 4 final candidates on this day. On this day, the Huichu Committee announced that it selected the final candidates after evaluating individual candidates according to detailed evaluation criteria set in advance, such as vision, mid- to long-term management strategy, entrepreneurship, career, professionalism, global mind, and network in order to closely verify the candidates. Hoi-Cool is the Chairman of the Board of Directors Yoon Seong-bok (Chairman of the Korea Certified Public Accounting Association), Park Won-gu, a special professor at Seoul National University, Cha Eun-young, Ewha Womans University professor, Baek Tae-seung, Yonsei University professor, Kim Hong-jin, former head of the Planning and Administration Department at Financial Information Analysis Institute, Yang Dong-hun, Dongguk University professor, Heo Yoon, Sogang University professor, and Lee Jeong-won former Shin Han. It consists of 8 outside directors including the president of Data System. Chairman Yoon Seong-bok explained, “We decided on the final candidates fairly and transparently according to the management succession plan and candidate nomination procedure.” “We included candidates for the organizational stability of Hana Financial Group.”
It is known that Chairman Kim has been direct and indirect several times informing him that he will not continue to serve additionally after having succeeded in his three consecutive terms, but eventually, as he became the final candidate, the weight of his succession is weighing on. From inside and outside the industry, the opinion that the reappointment of Chairman Kim is inevitable is gaining strength as strong candidates, such as vice chairman Ham, have legal risks and organizational stability is necessary in response to an emergency situation of the novel coronavirus infection (Corona 19). However, since the chairman’s age cannot exceed 70 according to the internal norms of Hana Financial Group’s governance structure, even if President Kim, who is 69 years old, remains in office this year, he can only extend his term of office for about one year to the shareholders’ meeting next year.
Vice-Chairman Ham, who was selected as a leading candidate, is currently undergoing a trial for the first trial for irregularities in employment. In addition, after receiving a “response warning” from the financial authorities regarding the incomplete sale of an overseas interest rate-linked derivative-linked fund (DLF), it has filed an application for temporary injunction to suspend the effect of the disciplinary action and is proceeding with an administrative lawsuit. Vice-Chairman Ham’s trial for corruption in hiring has been postponed until the end of March, and administrative litigation related to severe disciplinary action for DLF is scheduled to take place after April, but it is pointed out that depending on the outcome of the trial, it may place a burden on the organization in the future.
In addition to Vice Chairman Ham, Vice Chairman Lee Jin-guk (CEO of Hana Financial Investment) and Hana Bank Chairman Ji Seong-gyu were excluded from the short list. Vice-Chairman Lee has recently requested an investigation by the Financial Supervisory Service to the prosecution on charges of pre-sale of stocks.
/ Reporter Kim Hyun-jin [email protected]
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