BDI "Maintain CEO Kim Il-gang's Management System"
[Asia Economy Reporter Hyunseok Yoo] VIDIA recently experienced a rapid stock price fluctuation that changed its largest shareholder to the second largest shareholder, but the management system remains unchanged, and the bio business led by the new management team will proceed as planned, the company announced on the 9th.
Through the disclosure of the change in the largest shareholder, VIDIA's largest shareholder changed from CEO Kim Ilgang to former VIDIA Chairman Ahn Seungman. Chairman Kim Ilgang became the second largest shareholder.
This major shareholder change occurred due to a forced sale triggered by a shortage of collateral caused by a stock price decline on shares pledged as collateral under the "Largest Shareholder Stock Collateral Agreement."
A VIDIA official stated, "Despite the change in the largest shareholder, there is no change in the management system centered on CEO Kim Ilgang, and as planned, VIDIA has been organized into three divisions: Plant, Bio, and Renewable Energy, with inauguration ceremonies for each division president already completed."
He added, "The contract to acquire 51% of Allison, a U.S. company specializing in anticancer drug development, through a new share allocation method has been completed as scheduled, and the existing plant-centered business division is being maintained soundly, so there are no issues with company operations."
Hot Picks Today
Taking Annual Leave and Adding "Strike" to Profiles, "It Feels Like Samsung Has Collapsed"... Unsettled Internal Atmosphere
- There Is a Distinct Age When Physical Abilities Decline Rapidly... From What Age Do Strength and Endurance Drop?
- "One Comment Could Lead to a Report": 86% of Elementary Teachers Feel Anxious; Half Consider Resignation or Career Change
- "After Vowing to Become No. 1 Globally, Sudden Policy Brake Puts Companies’ Massive Investments at Risk"
- On Teacher's Day, a Student's Gifted Cake Had to Be Cut into 32 Pieces... Why?
VIDIA expects no change in the existing policy despite the change in the largest shareholder because former Chairman Ahn Seungman agreed that the bio business should be VIDIA's next-generation growth engine in the long term and proceeded with the transfer contract with CEO Kim Ilgang. The company plans to complete the ongoing acquisition discussions and continue its strategy to secure additional pipelines in FDA Phase 2 and Phase 3 clinical stages to achieve its ultimate goal of growing into a global big pharma as planned.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
