Want to be KT&G's next CEO? Here's how to apply.

Industry

Published: 28 Dec. 2023, 19:33

Want to be KT&G's next CEO? Here's how to apply.

KT&G CEO Baek Bok-in speaks at an event in at Conrad Hotel in western Seoul on Jan. 30. [YONHAP]

KT&G revealed the criteria by which it will select its next CEO on Thursday as the Korean tobacco company anticipates the conclusion of its incumbent head's third consecutive term in March.

The company held its Board of Directors meeting and Governance Committee Thursday to initiate the process for appointing the upcoming CEO.

The appointment process will span approximately three months and involve three steps: a Governance Committee assessment, a CEO Candidate Recommendation Committee, and approval at a General Meeting of Shareholders.

External CEO candidates will be sourced through a combination of open recruitment and search firm recommendations, while internal candidates will include those from the Senior Management Training Program as well as the incumbent CEO.

The Governance Committee will also establish an advisory panel of external experts to help form the shortlist.

Eligibility criteria for open recruitment candidates include experience as a representative director or in profit or loss management in the tobacco or consumer goods industry. The company also seeks candidates with industry understanding, global expertise, strategic thinking, and ethical awareness.

Candidates interested in open recruitment can submit their applications via registered mail or email by January 10.

Baek Bok-in became KT&G's CEO in 2015, securing reappointment in 2018 and 2021. His term is set to conclude in March 2024.

The KT&G Board of Directors removed a provision that permitted the company to prioritize its incumbent CEO over other candidates earlier this month.