Jin Ok-dong Shinhan Bank CEO and Lim Young-jin Shinhan Card President Successfully Reappointed
Shinhan Financial Group, Subsidiary CEO Candidate Recommendation and Holding Company Executive Appointment
[Asia Economy Reporter Kangwook Cho] Jin Ok-dong, CEO of Shinhan Bank, and Lim Young-jin, CEO of Shinhan Card, have successfully secured their reappointments.
Shinhan Financial Group announced on the 17th that it held a Subsidiary Management Committee (SMC) and an extraordinary board meeting to recommend subsidiary CEOs and make appointments for the holding company's executives.
At this SMC, the group recommended the reappointment of key subsidiary CEOs: Jin Ok-dong, CEO of Shinhan Bank; Lim Young-jin, CEO of Shinhan Card; and Sung Dae-gyu, CEO of Shinhan Life Insurance, each for a new two-year term.
These CEOs will have the opportunity to enhance their responsiveness to the challenging management environments their companies face, discover new business opportunities with a longer-term perspective, and lead innovation.
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A Shinhan Financial Group official stated, "CEO terms have typically been operated as two years for new appointments and one year for reappointments, which tended to focus on short-term performance rather than mid- to long-term strategic initiatives," adding, "By flexibly operating terms between one and two years, CEOs will have sufficient time to demonstrate leadership, thereby strengthening responsibility-based management centered on subsidiary CEOs."
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