Glass Lewis Recommends 'For' Appointment of Yoon Kyung-rim as KT CEO

Global proxy advisory firm Glass Lewis has recommended 'approval' for the appointment of Yoon Kyung-rim, President of KT Group's Transformation Division, as CEO of KT.

According to the telecommunications industry on the 14th, Glass Lewis advised KT shareholders to vote in favor of President Yoon's appointment as KT CEO at the regular shareholders' meeting scheduled for the 31st of this month.

Glass Lewis, along with ISS (Institutional Shareholder Services), is one of the world's two major proxy advisory firms, exerting significant influence on the decision-making of foreign and institutional investors.

Since foreign shareholders account for more than 40% of KT's shareholders, Glass Lewis's recommendation is expected to play a crucial role in the vote.

Glass Lewis also recommended approval for all other KT shareholders' meeting agenda items, including the appointment of inside directors.

Earlier, KT nominated Song Kyung-min, President of KT SAT, and Seo Chang-seok, Vice President and Head of KT's Network Division, as new inside directors. The terms of outside directors Kang Choong-gu, Professor of Electrical and Electronic Engineering at Korea University; Yeo Eun-jung, Professor of Business Administration at Chung-Ang University; and Pyoh Yeon-myung, former CEO of KT Rental, whose terms expire this month, were extended by one year.

Glass Lewis stated, "After reviewing the list of nominees, we believe there are no substantive issues that shareholders should be concerned about," and added, "We recommend that shareholders vote in favor of all candidates' appointments."

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