BNK Financial Group Confirms Plan to Proceed with Next Chairman's Management Succession Process

Longlist Confirmed with 9 Internal Candidates and External Candidates Recommended by Advisory Institutions
Final Candidates to Be Selected After 1st and 2nd Round Shortlisting Processes

[Asia Economy Reporter Yu Je-hoon] BNK Financial Group, which has been left without a leader following the mid-term resignation of former Chairman Kim Ji-wan, has finalized its plan to proceed with the succession of the next chairman. BNK Financial plans to form a pool of candidates including nine internal candidates such as CEOs of its affiliates and external candidates recommended by two external advisory firms, from which the next chairman will be appointed.

On the morning of the 18th, BNK Financial announced that it held an Executive Candidate Recommendation Committee meeting and finalized the procedures for CEO succession. BNK Financial had decided to initiate the CEO succession process at a committee meeting on the 14th, and on this day, the schedule and detailed procedures were confirmed.

First, according to the CEO succession plan, a final CEO candidate will be selected through a fair and transparent process. To this end, in addition to the nine internal CEO candidates, external candidates will be added through recommendations from two external advisory firms. The final CEO candidate pool (Long-List) will be confirmed at the next recommendation committee meeting, considering the schedule required for the external advisory firms to recommend candidates.

Additionally, the recommendation committee plans to hold approximately four more meetings. The committee will conduct document screening evaluations on the CEO candidates to narrow down to the first candidate pool, then further narrow down to the second candidate pool by reflecting presentation and interview evaluations as well as external reputation checks, and finally recommend the ultimate candidate through in-depth interviews.

The chairperson of the Executive Candidate Recommendation Committee stated, "As social attention has recently been focused on the CEO succession process at BNK Financial Group, we plan to proceed with the succession process more fairly and transparently than ever before," adding, "We will exercise utmost caution to select the right candidate who can lead the group’s development well by turning BNK’s management philosophy practice and changes in the financial industry paradigm into opportunities."

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