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One month after listing, some of Kakao Pay’s executives have decided to step down, after the company’s executives exercised stock options, making tens of billions of profits, and causing controversy such as the CEO eating out.
Of the eight controversial executives, five who remained with the company decided to repurchase the Kakao Pay shares they had sold to strengthen responsible management.
According to Kakao Pay, eight executives who exercised stock options informed the Kakao Community Alignment Center of their intention to resign at once, but five of them were advised to remain with the company to settle the situation and gain trust again.
As a result, 5 of the 8 people, including CEO Shin Won-geun, will remain with the company, and 3 people including CEO Ryu Young-jun will leave the company.
On the 13th after the controversy over Kakao Pay scam, the Kakao Community established a regulation that prohibits the CEO from selling stocks for two years and other executives for one year after listing of affiliates.
As a result, executives who have left Kakao Pay cannot sell their remaining stocks until November 3 this year for executives and November 3 for CEO Ryu Young-joon next year.
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