Chang In-hwa named as next Posco chairman

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Chang In-hwa named as next Posco chairman

Chang In-hwa

Chang In-hwa

Chang In-hwa, former president of Posco, has been named the sole candidate for the chairman position at Posco Holdings.
 
Chang was tapped out of six shortlisted candidates after completing an in-depth two-day interview on Wednesday and Thursday. 
 
“The Posco CEO Recommendation Committee determined that Chang In-hwa will do well in enhancing the competitiveness of Posco's new business and fortify the steel business' future competitiveness in the face of a low-carbon era,” said Park Hee-jae, chair of the committee, in a release on Thursday. 
 
“All members of the committee agreed on prioritizing transparency, fairness and objectivity of the selection process. Without interference from outside, [the committee]worked hard to carry out their duties independently.”
 
Chang is a Seoul National University graduate with bachelor's and master’s degrees from Department of Naval Architecture and Ocean Engineering.
 
After obtaining a doctoral degree from the Massachusetts Institute of Technology in the same subject, Cha began working for the Posco-affiliated Research Institute of Industrial Science & Technology in 1988. He stayed there for 23 years.
 
The committee said it expects Chang to lead innovation centered on technology on the back of his engineering career.
 
The 69-year-old has held various positions at Posco since 2011, ranging from the investment to finance departments. He has contributed, in particular, to the establishment of a global network for steel as well as new businesses in 2018 when he served as the head of Posco's steel business department. 
 
He was a runner-up when the current chairman, Choi Jeong-woo, was tapped to the position in 2018. Chang has served as an adviser since his retirement in 2021, staying up to date with Posco's current business agenda. 
 
He is considered a friendly leader, as he got along well with the labor union while representing the company the company.
 
Shortlisted candidates included former LG Energy Solution CEO Kwon Young-soo and former Hyundai Steel Vice Chairman Woo Yoo-cheol.
 
Chang will be voted on at the general shareholders’ meeting and the board meeting in March.
 

BY JIN EUN-SOO [[email protected]]
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