BNK Financial Group Appoints Executive Director Jeong Seong-jae as Interim CEO... Initiates Management Succession Process

BNK Financial Group CI.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] BNK Financial Group held a board of directors meeting and an executive nomination committee meeting respectively on the afternoon of the 14th following the mid-term resignation of Chairman Kim Ji-wan.

At the board meeting, after reporting the receipt of the resignation letter from the CEO chairman, a temporary CEO candidate was selected to perform the duties of the CEO until the next CEO is appointed, and according to the Commercial Act, plans were made to petition the court for the appointment of the temporary CEO.

As a result of the board discussion, BNK Financial selected Executive Director Jeong Seong-jae of the holding company as the temporary CEO candidate.

Executive Director Jeong, as the head of group strategy and finance, possesses extensive knowledge of the group's overall operations and is evaluated as a harmonious figure who manages the organization stably and does not cause conflicts among employees, leading to his selection as the temporary CEO candidate.

The board emphasized that the next chairman succession process will be conducted fairly and neutrally, centered on the board of directors.

Additionally, following the board decision on the 4th, the CEO succession plan was revised, and the executive nomination committee was expanded from the previous four outside directors to all six outside directors to allow for more careful discussions in selecting the optimal CEO candidate.

At the executive nomination committee meeting held after the board meeting, only the decision to set the start date of the CEO succession procedure as the 14th was made, while the process of narrowing down the CEO candidates and the schedule for future executive nomination committee meetings will be decided at the next executive nomination committee meeting.

A BNK Financial Holding official stated, “Since the temporary CEO candidate was selected and the next CEO selection process was initiated at today’s board and executive nomination committee meetings, we expect to minimize the management vacuum in the group, stabilize the organization early, and quickly restore customer trust.”

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