KB Financial Group Selects New CEO Candidates for 3 Affiliates; 7 Affiliates Reappoint Existing CEOs

Selection of CEO Candidates for KB Financial Group Affiliates
KB Securities, KB Kookmin Card, KB Capital, KB Life Insurance, KB Savings Bank, and KB Investment Retain Existing CEOs

[Asia Economy Reporter Park Sun-mi] On the 18th, KB Financial Group held the Subsidiary CEO Candidate Recommendation Committee (hereinafter referred to as the Committee) and selected CEO candidates for 10 subsidiaries, including KB Securities. The selected candidates will undergo final review and recommendation by the CEO Candidate Recommendation Committee of the respective subsidiaries in December and will be confirmed at the shareholders' meeting.

The Committee selected new CEO candidates for KB Insurance, KB Real Estate Trust, and KB Credit Information among the 10 subsidiaries whose terms expire at the end of December. For the new CEO candidates, KB Insurance selected Kim Ki-hwan, CFO of KB Financial Group; KB Real Estate Trust selected Seo Nam-jong, CRO of KB Financial Group; and KB Credit Information selected Cho Soon-ok, Compliance Officer of KB Kookmin Bank. The term of the new CEOs is two years.

KB Asset Management, which was operated under a multiple-CEO system, will switch to a single-CEO system. KB Asset Management reselected CEO candidate Lee Hyun-seung, who is in charge of the alternative assets division.

KB Securities, KB Kookmin Card, KB Capital, KB Life Insurance, KB Savings Bank, and KB Investment reselected CEOs Park Jung-rim and Kim Sung-hyun, Lee Dong-chul, Hwang Soo-nam, Heo Jung-soo, Shin Hong-seop, and Kim Jong-pil as candidates, respectively. The terms of the reselected CEOs are one year.

The Committee stated, “In an environment where digital trends and a low-growth structure have become normalized, we focused on forming a leadership group with proven capabilities that can drive sustainable growth through customer-centered digital innovation. In particular, we thoroughly examined the suitability of CEO candidates by comprehensively reviewing management performance during their tenure, the drive to implement mid- to long-term management strategies, and change and innovation leadership capable of actively responding to market changes.”

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