GS Co., Ltd. Appoints Chairman Heo Tae-soo as CEO

[Asia Economy Reporter Hwang Yoon-joo] GS Corporation held its 16th regular general shareholders' meeting at 9 a.m. on the 27th at the GS Tower in Yeoksam-dong, Gangnam-gu, and appointed Chairman Heo Tae-soo as an inside director. He was then officially appointed as CEO at the board meeting held immediately afterward.

A GS official stated, "Chairman Heo Tae-soo demonstrated outstanding management capabilities and leadership while serving as General Manager of the IB Business Division at LG Investment & Securities and CEO of GS Home Shopping," adding, "He is expected to play a significant role in improving GS Group's business portfolio and achieving qualitative growth through proactive responses and discovering future growth engines amid rapidly changing global environments."

Additionally, all agenda items submitted to the shareholders' meeting, including approval of financial statements, appointment of directors, appointment of audit committee members, and approval of director remuneration limits, were approved as originally proposed. Accordingly, Hong Soon-ki, President of GS Corporation, was appointed as an inside director, and Heo Yeon-su, Vice Chairman and CEO of GS Retail, was appointed as an outside director. President Hong was subsequently appointed as CEO through the board of directors.

Newly appointed CEO Hong Soon-ki is a financial expert who has performed financial roles at GS Corporation and its affiliates within the GS Group. Currently serving as President and Head of the Finance Team at GS Corporation, he has demonstrated excellent leadership and management skills, and is expected to contribute significantly to the board.

Outside director Heo Yeon-su, having served as CEO of GS Retail, has shown outstanding expertise and leadership. Based on this, he is expected to make substantial contributions to the improvement and expansion of GS Group's business portfolio, including the establishment of mid- to long-term strategies.

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