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(Seoul = Yonhap News) Reporter Shin Jae-woo = At the general shareholders’ meeting of Korea & Company and Hankook Tire and Technology, which will be held on the 30th, Hankook Tire’s eldest son, Cho Hyun-sik, vice chairman of Korea & Company, agreed to appoint an audit committee member and the second son. In Cho Hyun-beom, president of Hankook Tire and Technology, decided to object to the appointment of an executive director.
Hankook Tire’s eldest son and second son are in a dispute over management rights, and they plan to hold a vote confrontation over the appointment of an audit committee member at the company’s shareholders’ meeting.
On the 26th, the National Pension Fund Trustee Responsibility Committee (Consignment Committee) decided on the direction of the exercise of voting rights at the holding company Korea & Company and the subsidiary Hankook Tire & Technology stockholders’ meeting.
The entrustment committee agreed with the appointment of Korea University professor Han-sang Lee, proposed by Vice Chairman Cho, for the’appointment of an outside director to become an audit committee’ among the agendas of the shareholders’ meeting of Korea & Company.
The commission decided that Professor Hye-gyeong Kim, recommended by the board of directors, than the former Blue House female and family secretary, would suit the reinforcement of the company’s surveillance and supervision functions.
Earlier, Vice Chairman Cho recommended Professor Lee, an expert in the field of accounting transparency and corporate value enhancement, as a shareholder proposal, indicating that he would take responsibility for the dispute over management rights and resign from the position of CEO.
The commission decided to object to the agenda of the appointment of Cho Hyun-beom as the executive director of Hankook Tire and Technology’s shareholders’ agenda. The record of damage to corporate value or infringement on shareholder rights was stated as an objection.
President Cho, the son-in-law of former President Lee Myung-bak, was charged with embezzlement and embezzlement, and was sentenced to three years in prison and four years probation at last year’s appeal trial.
Regarding the appointment of an outside director to become a member of the audit committee, the entrusted committee agreed with the proposal for the appointment of Lee Hye-woong, the CEO of BRB Korea Advisors. This appointment was also submitted by Vice Chairman Cho.
The commission objected to the approval of the remuneration limit for directors of the two companies on the grounds that “the management performance was not linked.”
In June last year, the second son of Hankook Tire, Cho Hyun-beom, president of Hankook Tire & Technology, took over 23.59% of his father, Yang-Rae Cho, chairman of Korea & Company through overtime mass trading, and increased the stake in Korea & Company to 42.90%.
It seemed that the succession structure was decided as President Cho Hyun-beom without any conflict, but a month later, in July of last year, the eldest daughter asked the Seoul Family Court to judge Cho Yang-rae for adult guardianship, and the conflict intensified.
The trustees agreed to agree on the appointment of an executive director Park Jung-ho among the agendas of SK Hynix’s shareholders meeting held on the 30th, saying, “There is no reason to object to it.”
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2021/03/26 22:30 sent