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Posco unveils six finalists for next chairman

Published: 01 Feb. 2024, 11:08

SARAH CHEA
[email protected]

Clockwise from top left: Kwon Young-soo, former vice chairman of LG Energy Solution, Kim Dong-sub, CEO of Korea National Oil, Kim Ji-yong, director of Posco Holdings Future Technology Research Institute, Chon Jung-son, former president of Posco Holdings, Chang In-hwa, former president of Posco and Woo Yoo-cheol, former Hyundai Steel Vice Chairman. [POSCO HOLDINGS]

Posco Holdings unveiled a final shortlist of candidates for its next chairman, which includes former LG Energy Solution CEO Kwon Young-soo and former Hyundai Steel Vice Chairman Woo Yoo-cheol.

The list of six candidates includes three former and current executives of the company: Kim Ji-yong, director of Posco Holdings Future Technology Research Institute, Chang In-hwa, former president of Posco and Chon Jung-son, former president of Posco Holdings.

Posco CEO Kim Hag-dong, Posco Holdings President Jeong Ki-seop and Posco International Vice Chairman Jeong Tak were not on the list, ending speculation that they were potential candidates.

Outside recommendations on the list consist of Kwon, who most recently served as vice chairman of LG Energy Solution, Woo from Hyundai Steel and Kim Dong-sub, CEO of Korea National Oil.

Kwon's presence is significant as it is the first time he has tried for a position in a Korean company other than LG. Kwon worked for LG companies, including LG Energy Solution, LG Electronics and LG Chem, for 44 years until he retired this year.

"The finalists were selected based on their expertise and leadership capabilities," the CEO Recommendation Committee said in a statement. "We are trying our best to secure transparency in the process with our determination that nothing is more important than appointing a new chairman of Posco, a global company representing Korea."

The candidates will have in-depth interviews on Feb. 7 and 8 to select the final successful candidate at a shareholder meeting scheduled for March 21.

BY SARAH CHEA [[email protected]]