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Korean Telecom (KT) Receives 20 Applications for CEO Position
In a public recruitment drive held from the 4th to the 12th of this month, Korean telecom giant, KT, received a total of 20 applications for the position of CEO. Among these, one candidate was recommended by shareholders holding 0.5% or more of shares, while six candidates were recommended by external professionals.
The Director’s Candidate Recommendation Committee, in accordance with its regulations, will now commence a thorough screening process. This process will include internal candidates who meet the qualifications of the internal candidate group, such as having the position of group vice president or higher and a minimum of two years of service at KT.
It is worth noting that Park Jong-wook, the current interim CEO and head of the management planning department, has decided not to participate in the nomination or selection process. This decision has been made to ensure fairness in the evaluation.
To enhance the objectivity of the CEO screening process, the Director’s Candidate Recommendation Committee has formed an appointment advisory group consisting of external experts with expertise in corporate management, industry knowledge, leadership, and communication. The Personnel Advisory Group will evaluate the document submissions from both internal and external representative director candidates. The recommendations of the Personnel Advisory Group will be taken into consideration by the Director’s Candidate Recommendation Committee in order to narrow down the candidates for the Chief Officer Operational position.
Appointment of New CEO Expected by End of August
KT aims to finalize the selection process and appoint the new CEO in the first week of August. The final appointment will be made during the general shareholders’ meeting at the end of August.
Furthermore, the composition of the board and committees has also been discussed. The newly appointed KT board of directors will be chaired by Director Jong-soo Yoon, while Seung-hoon Lee will serve as the chairman of the Director Candidate Recommendation Committee.
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As a result of KT’s public recruitment of CEO candidates from the 4th to the 12th at 6:00 pm, a total of 20 people applied, and one and six candidates were recommended, respectively, by shareholders who holding 0.5% or more of shares and external professionals. organizations 13 said the day
In addition, according to the regulations of the Director’s Candidate Recommendation Committee, the full-scale screening process will begin, including internal candidates who meet the internal candidate group qualifications (group vice president or higher and two or more years of service , and so forth). .).
However, Park Jong-wook, head of the management planning department (president), who is currently serving as interim CEO, will not participate in the nomination process and will not participate in the selection process to ensure fairness in the evaluation. a doctor
The Director’s Candidate Recommendation Committee decided to form an appointment advisory group with external experts in the fields of ▲corporate management expertise ▲industrial expertise ▲leadership and communication to strengthen the objectivity of screening the CEO candidates. The Personnel Advisory Group will present its opinion on a document evaluation of internal and external representative director candidates to the Director Candidate Recommending Committee, and the Director Candidate Recommending Committee will refer to the opinion of the Personnel Advisory Group to narrow down the candidates for Chief Officer Operational.
KT plans to finalize one person in the first week of August after reviewing documents and interviews for the group of candidates formed this time, and the candidate will be finally appointed as the new CEO at the shareholders’ meeting general at the end of August.
In addition, as a result of discussions on the composition of the board and committees, the newly appointed KT board of directors has Director Jong-soo Yoon as chairman of the board and Seung-hoon Lee as chairman of the Director Candidate Recommendation Committee.
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