According to the industry on Thursday, the board’s director nomination committee recommended Joo-yeon Kim, a former vice chair for P&G Japan and Korea, as a new outside director. It also re-nominated outside director Jun-gi Kim, whose term is ending, as a candidate for the audit committee.
Joo-yeon Kim previously served as vice chair of Korea P&G, CEO and president of P&G Korea, and global chief marketing officer for P&G Grooming. She currently serves as an outside director at SK Innovation.
For inside directors, the company recommended Seok-mo Jeong, head of the Business Synergy Division. It also recommended Hee-geun Lee, CEO and president of POSCO, as a non-executive director. In addition, it re-nominated Ju-tae Lee, head of the Future Strategy Division, and Ki-su Kim, head of the Future Technology Research Institute and the group’s chief technology officer, as inside directors.
Jeong joined POSCO in 1991 and has served as CEO and president of ENtoB, head of POSCO’s secondary battery materials business office, and head of the industrial gas business division, with experience spanning steel, secondary battery materials and industrial gas.
The nominees are expected to be formally appointed after approval at the annual shareholders meeting on March 24. After the appointments, POSCO Holdings’ board will have 12 members: seven outside directors, four inside directors and one non-executive director.
The board also approved the cancellation of 2% of its treasury shares, valued at 635.1 billion won. The move is part of a plan announced in July 2024 to strengthen shareholder returns and boost corporate value by canceling a total of 6% of treasury shares over three years, or 2% a year. The company said it plans to carry out the remaining cancellation target this year to complete the three-year shareholder-return policy.
The board also decided to submit other items to shareholders, including approval of the 2025 financial statements, partial amendments to the articles of incorporation, and approval of the cap on directors’ compensation.
POSCO Holdings said it will maintain its dividend policy of a basic dividend of 10,000 won per share despite a global economic slowdown and a tougher protectionist trade environment.
* This article has been translated by AI.
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