SK Innovation Recommends New Director Candidate Former CEO of Global Company

Recommendation of Kim Ju-yeon and Lee Bok-hee at the Board Meeting on the 8th

SK Innovation has recommended two former global company CEOs as new outside director candidates. This move is interpreted as a strategy to further strengthen the board's expertise and diversity.

On the 8th, SK Innovation held a board meeting and announced the recommendation of Kim Ju-yeon, former Vice President of P&G Oral Care & Grooming Korea and Japan, and Lee Bok-hee, CEO of Rohm and Haas Electronic Materials CMP Korea, as new outside director candidates. The recommended candidates are scheduled to be appointed through the regular shareholders' meeting in March.

Kim Ju-yeon, former Vice President of P&G Oral Care & Grooming Korea and Japan, recommended as the new Social Director of SK Innovation (left), and Lee Bok-hee, CEO of Romend Haas Electronic Materials CMP Korea (right). Photo by SK Innovation

Kim Ju-yeon, the outside director candidate, is an expert with 30 years of experience in the consumer goods industry. She has served as President and CEO of P&G Korea, Regional Head of P&G Gillette Asia, and Vice President of P&G Oral Care & Grooming Korea and Japan. As the first Korean appointed as P&G’s global Grooming Chief Marketing Officer, she is recognized as a marketing expert and is expected to significantly contribute to expanding SK Innovation’s global business by leveraging her management expertise.

Lee Bok-hee, the outside director candidate, has held various roles in the electronic materials field for 20 years, including serving as CEO of DuPont Korea. Currently, she is the CEO of Rohm and Haas Electronic Materials CMP Korea, a DuPont Korea group company. She started her career in research and development (R&D) at Samsung General Chemicals and has held positions such as Head of Dow Korea R&D Center and Executive Director overseeing the Image Solutions Business Unit of DuPont Electronics & Imaging Group. Based on her business experience in chemistry and new materials, Lee is expected to demonstrate strong capabilities in decision-making related to SK Innovation’s business.

SK Innovation’s board maintains a practical independence by exceeding the legally required outside director ratio of 50%, currently holding it at 71.4%. With the appointment of the two recommended outside directors, the number of outside directors will increase from five to six, raising the outside director ratio to 75%.

In particular, SK Innovation recommended former professional managers from global companies as outside directors to enhance the board’s expertise. It is expected that advice and decisions necessary to significantly increase SK Innovation’s corporate value will be made from the perspective of businesspeople with global business experience and technical capabilities.

Additionally, board diversity has been improved. Upon the appointment of the two outside director candidates, the proportion of female directors will increase from the current 14.3% to 37.5%, and the proportion of female outside directors will reach 50%. This is the highest female representation within the boards of SK member companies.

Since declaring board-centered management in 2004, SK Innovation has continuously worked to enhance corporate value through governance innovation. Accordingly, since 2019, the board chairperson has been an outside director, and since 2021, the board has exercised voting rights related to the CEO’s evaluation, compensation, and succession. This year, under the common goal of enhancing corporate value, all SK Innovation affiliates plan to accelerate board-centered management.

An SK Innovation official stated, “SK Innovation appoints directors with expertise based on the principles of independence, expertise, and diversity,” adding, “We will do our best to enhance SK Innovation’s corporate value through the establishment of advanced governance.”

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