KB Financial Group Begins Next Chairman Candidate Recommendation Process... Four Final Candidates Confirmed on the 28th

Chairman Yoon Jong-kyu's Term Expires on November 20

[Asia Economy Reporter Park Sun-mi] The KB Financial Group Chairman Candidate Recommendation Committee (hereinafter referred to as the Recommendation Committee) held a meeting on the 12th to establish detailed guidelines for selecting a successor to Chairman Yoon Jong-kyu, whose term expires on November 20.

According to KB Financial Group on the 12th, the Recommendation Committee, composed of all seven outside directors, resolved the "Detailed Guidelines for the Chairman Candidate Recommendation Procedure," which includes specific steps such as the schedule for recommending chairman candidates and the evaluation and selection methods for the candidate pool, based on communication results with stakeholders.

The Recommendation Committee will hold a meeting on the 28th to evaluate the candidate pool of 10 individuals, consisting of five internal and five external candidates confirmed in April, and through voting, will finalize four candidates for the chairman candidate pool. Subsequently, on September 16, an in-depth evaluation through interviews will be conducted for the final four candidates.

After selecting one final chairman candidate and completing the qualification verification process, the committee plans to recommend the candidate to the shareholders' meeting at the September 25 meeting. To be selected as the final candidate, a candidate must receive at least two-thirds of the votes from the Recommendation Committee members (5 out of 7 members).

This year, the schedule for starting the chairman candidate recommendation process was moved up by about two weeks compared to 2017, extending the overall timeline by two weeks. The Recommendation Committee explained that this was to provide sufficient time for the interview candidates. Additionally, the KB Financial Group Recommendation Committee stated that the chairman candidate recommendation process is not a one-time event conducted just before the term expiration but a continuously implemented process, and they have established and operated a management succession program based on this recognition.

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