Park Hee-jae Resigns as Chairman of POSCO Holdings Board... "New Management Will Show Responsibility"

Heejae Park, Chairman of the Board of POSCO Holdings. Photo by POSCO

Park Hee-jae, chairman of the POSCO Holdings board of directors who led the POSCO CEO Candidate Recommendation Committee (Candidate Committee), has expressed his intention to resign. Chairman Park's term was set to run until March 2025, but he voluntarily stepped down with about a year remaining.

In his "letter of resignation" on the day, Chairman Park stated, "I wish to resign as chairman and outside director of the POSCO Holdings board of directors," and added, "I hope for broad understanding regarding any shortcomings in my duties as an outside director, board chairman, and candidate committee chairman of POSCO Holdings."

He continued, "Since the launch of the Candidate Committee on December 21 last year, we selected Jang In-hwa as the next chairman candidate of POSCO Holdings on February 8 this year," and "all procedures, including the board meeting on February 21 and the submission of the next chairman candidate agenda at the regular shareholders' meeting on March 21, were successfully completed."

He expressed hope that "POSCO Group will continue its vigorous challenge toward the future based on a more advanced governance structure," and said, "The remaining tasks will be responsibly handled by the new management and the board of directors."

Chairman Park was appointed as an outside director of POSCO Holdings in March 2019 during Chairman Choi Jeong-woo's tenure, serving as a professor in the Department of Mechanical and Aerospace Engineering at Seoul National University. He was reappointed in March 2022 and continued his role as an outside director.

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