Jeon Dae-jin Resigns as Kumho Tire CEO... Jeong Il-taek, Head of R&D, Appointed as New CEO

Taking Responsibility for Recent Loss in Ordinary Wages Lawsuit and Resigning Voluntarily

[Asia Economy Reporter Kim Ji-hee] Jeon Dae-jin, CEO of Kumho Tire, has resigned. It is reported that he tendered his resignation taking responsibility for the recent loss in the ordinary wage lawsuit. His successor is Jeong Il-taek, Head of Research and Development (Vice President).

Kumho Tire announced on the 22nd that it held an extraordinary board meeting and promoted Vice President Jeong Il-taek to President and appointed him as CEO. The board meeting was convened as former CEO Jeon tendered his resignation on the same day. Former CEO Jeon was appointed as a full-time advisor.

Earlier, on the 11th, the Supreme Court overturned the original ruling in the wage claim lawsuit filed by five Kumho Tire employees against the company and remanded the case to the Gwangju High Court.

The new CEO Jeong graduated from Chonnam National University with a degree in Chemical Engineering and a master's in Polymer Engineering, and joined Kumho Tire in 1988. He has since served as head of the KTG Corporation, OE Sales Headquarters, Quality Headquarters, and Research and Development Headquarters.

Kumho Tire plans to hold an extraordinary general meeting of shareholders on May 7 to approve the appointment of the new CEO Jeong as a director.

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