KT to Dispose of Treasury Shares Worth 4.6 Billion KRW... Transition to Sole CEO Koo Hyun-mo System
[Asia Economy Reporter Myung-hwan Lee] KT announced on the 14th that it will dispose of 128,923 treasury shares at an off-market price of 35,950 KRW per share.
The expected disposal amount is 4,634,780,000 KRW, and the disposal period is from the 15th to May 14th.
The purpose of the disposal was stated as "stock compensation for internal and external directors and executive officers, and payment of long-term performance bonuses."
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Additionally, on the same day, KT announced that as of the 31st of last month, the existing dual CEO system with Koo Hyun-mo and Park Jong-wook has changed to a sole CEO system under Koo Hyun-mo. KT explained, "This change is due to the expiration of the term of CEO Park Jong-wook, who was appointed by the board of directors."
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