"Protection of Shareholders' Rights"... Hyundai Mobis Implements Public Recruitment for Shareholder-Nominated Outside Directors

[Asia Economy Reporter Kiho Sung] Hyundai Mobis, which strengthened the expertise and diversity of its board of directors by appointing two foreign outside directors last year, is opening a public call for outside directors responsible for protecting shareholder rights through a shareholder recommendation system.

Hyundai Mobis announced on the 2nd that it is accepting recommendations for candidates for outside directors who will serve as protectors of shareholder rights from the Transparent Management Committee by the 13th of this month to enhance the independence of the board.

The Transparent Management Committee is a committee within the Hyundai Mobis board of directors operated for the purposes of ▲protecting shareholder rights, ▲strengthening transparency in internal transactions, and ▲promoting ethical management. To strengthen communication with shareholders, one outside director is appointed to be responsible for protecting shareholder rights.

The Hyundai Mobis outside director shareholder recommendation system aims to secure transparency in governance and strengthen shareholder representation as part of policies to enhance shareholder value. The purpose is to establish a transparent management environment by appointing outside directors who reflect shareholders' opinions based on trust with stakeholders.

The newly appointed outside director responsible for protecting shareholder rights will attend corporate briefings and handle communication between the board and shareholders through meetings with shareholders. In addition, they will convey opinions heard from shareholders to the board and continuously develop policies to improve shareholder rights protection.

As of the end of last year, shareholders holding Hyundai Mobis shares can recommend one outside director candidate regardless of the number of shares held. They can fill out the form posted on the Hyundai Mobis website and submit it by registered mail within the deadline. Recommended outside directors are reviewed by an independent external advisory group, approved by the Outside Director Candidate Recommendation Committee, and finally appointed at the general shareholders' meeting.

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