Woori Financial Group Recommends Senior Executive Vice President Lee Won-duk as Next Woori Bank President

Discussion on Hiring Female Outside Directors with Legal and ESG Expertise and External Recruitment of Digital Chief Officers

▲Lee Won-duk, Senior Vice President, Woori Financial Group

[Asia Economy Reporter Sim Nayoung] Woori Financial Group (Chairman Sohn Tae-seung) announced on the 7th that its subsidiary CEO Candidate Recommendation Committee (hereinafter referred to as the Subcommittee) has completed the recommendation of CEO candidates for eight subsidiaries, including Woori Bank and Woori Savings Bank. Lee Won-duk, Senior Executive Vice President of Woori Financial Group, was recommended as the sole candidate for the position of Woori Bank President.

The Woori Financial Subcommittee stated, "Candidate Lee Won-duk has served as Executive Director of the Future Finance Division at Woori Bank and Head of the Management Planning Group. As Senior Executive Vice President (Inside Director) of the holding company, he has been responsible for key core tasks within the group, gaining a broad understanding of the entire group. His experience as Chairman of the Group Digital Innovation Subcommittee was highly evaluated, especially in the current situation where platform competitiveness is becoming a key competitive factor."

Kim Jong-deuk, CEO of Woori Comprehensive Finance; Lee Chang-jae, CEO of Woori Asset Trust; Go Young-bae, CEO of Woori Fund Service; Kim Kyung-woo, CEO of Woori Private Equity Asset Management; and Choi Kwang-hae, CEO of Woori Financial Research Institute were all reappointed. For the position of CEO of Woori Credit Information, Lee Joong-ho, Executive Vice President of Woori Bank, was newly recommended.

In the case of Woori FIS, to foster it as a digital-specialized subsidiary, Ko Jung-hyun, Executive Vice President of Woori Bank with extensive digital work experience, was recommended as the CEO candidate. Additionally, during future personnel appointments at the holding company and bank management, external recruitment of young digital division executives (CDOs) targeting MZ generation customers to enhance the group’s future competitiveness was also discussed.

Woori Financial Group appointed directors Yoon In-seop and Shin Yo-hwan as new outside directors at the shareholders' meeting held on the 27th of last month. On the same day, the board of directors convened to form committees within the board, including the new directors, and after several subcommittee meetings, completed the selection of subsidiary CEO candidate pools and final candidate recommendations.

At the board meeting, Woori Financial Group discussed a plan to nominate female outside director candidates with expertise in legal and ESG fields for the regular shareholders' meeting in March. Along with this, to actively pursue business portfolio expansion after full privatization, strengthen the group’s core growth sectors, and facilitate active cohesion and smooth communication among all subsidiaries, the group plans to introduce a president-level position within the holding company and appoint Park Hwa-jae and Jeon Sang-wook as presidents through related procedures in the future.

The final CEO candidates will be appointed at each subsidiary’s shareholders' meeting after qualification and suitability verification through the respective subsidiary boards.

This content was produced with the assistance of AI translation services.