Glass Lewis, an American proxy advisory, sided with Kumho Petrochemical senior vice president Park Chul-whan in an ongoing dispute against the company’s chairman over management control.
Efforts by Kumho Petrochemical’s largest shareholder to shake up the company has hit a major snag, as a proxy advisory group recommended shareholders vote ‘no’ to the resolutions he proposed.
The board of Kumho Petrochemical on Tuesday agreed to add a number of items submitted by its largest shareholder to the agenda for its shareholder meeting on March 26.
Korea JoongAng Daily Sitemap