POSCO, one of Korea’s biggest conglomerates, has narrowed down its choices of CEO to five.
Internal candidates are POSCO President Kwon Oh-jun, POSCO CHEMTECH President Kim Jin-il, POSCO Educational Foundation Chairman Park Han-yong, and POSCO E&C’s Vice President Jeong Dong-hwa. The sole candidate from outside the company is Oh Young-ho, the president of KOTRA.
POSCO on January 15 opened a preliminary hearing on confirmation of CEO candidates and formed a CEO recommendation committee with five outside directors.
Lee Yeong-sun, the committee chairman, said, “We have made every effort to select the best candidates possible, from a pool of internal and outside candidates.”
The CEO recommendation committee will start conducting a review of each candidates’ qualifications, including curriculum vitae and interviews, and submit a final candidate to the board of director’s meeting on January 29.
The four internal candidates all have a background working in POSCO’s predecessor, Pohang Steel, and its subsidiaries’ research institutes.
According to a POSCO source, “In order to stop unnecessary competition and to give the candidate enough time to prepare for POSCO’s future and managerial vision, candidate selection might be expedited and decided at the company’s annual meeting.”