KT&G President Baek Bok-in Announces Resignation Intent... "New Leadership Needed"

Baek Bok-in, CEO of KT&G, conveyed to the board on the 10th that he will not seek reappointment.

CEO Baek stated, "It is time for new leadership to achieve KT&G's 'global top-tier leap' and transformation," adding, "I hope a capable individual who can lead the next level of growth as a global leading company and accomplish our future vision will be appointed as the next CEO."

Last January, Baek held the 'Future Vision Declaration Ceremony' and laid the foundation for a mid- to long-term future vision by expressing his commitment to focus on nurturing three core businesses: NGP (Next Generation Products, e-cigarettes), Global CC (Global Cigarettes), and health supplements, aiming to leap into a global top-tier company.

Subsequently, by signing a 15-year long-term contract with PMI, a global leading tobacco company, KT&G elevated the global competitiveness of its NGP business to a new level and established a stable foundation for overseas operations, achieving a record-breaking annual sales figure approaching 6 trillion KRW.

Recently, to focus on the three core businesses and establish global production innovation bases, KT&G unveiled blueprints for new factories in Indonesia and Kazakhstan, expanded the NGP factory in Sintanjin, and contributed to enhancing the company's future value through swift growth investment execution.

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