The KB Financial Group Chairman Candidate Recommendation Committee announced on July 3 that it has finalized a shortlist of six candidates, including four internal candidates and two external candidates.
The internal candidates are Yang Jong-hee, the current chairman of KB Financial Group; Lee Jae-geun, head of the KB Financial division; Lee Chang-gwon, also head of the KB Financial division; and Lee Hwan-joo, president of KB Kookmin Bank (listed in alphabetical order). The external candidates include Kwon Kwang-seok, former president of Woori Bank, and one unnamed individual.
The committee plans to conduct initial interviews with the six candidates on July 27, after which it will narrow the list down to three.
On September 11, the three finalists will undergo in-depth interviews, and one will be selected as the final candidate.
Once the final candidate passes the qualification verification required by relevant laws, they will be appointed as chairman during an extraordinary shareholders' meeting expected to be held in November, following the recommendation process by the committee and the board of directors on October 2. Yang Jong-hee's current term ends on November 20.
Cho Hwa-jun, chairman of the recommendation committee, stated, "We will continue to strive for a transparent and objective candidate verification and evaluation process to select the best CEO that meets the trust of shareholders and customers."
In the financial sector, there is a prevailing view that Yang is likely to be reappointed. Since taking office, he has been credited with achieving both strong performance and shareholder returns. KB Financial entered the '5 trillion club' for the first time in 2024 and has reported over 5 trillion won in net profit for two consecutive years. This year, it is projected to exceed 6 trillion won.
* This article has been translated by AI.
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