Shinhan Financial Group Initiates Succession Process for Subsidiary CEO

The CEO Candidate Recommendation Committee of Shinhan Financial Group held a meeting on the 10th and announced that it has initiated the succession process for subsidiary CEOs whose terms expire from the end of this year to early next year.

Prior to the meeting, the Shinhan Financial Group CEO Candidate Committee revised the subsidiary management succession plan, including the 'initiation of bank president succession procedures three months before term expiration' and the 'introduction of a regular selection process for the subsidiary CEO succession candidate pool (Long-list)'.

At the meeting, the committee selected the 'subsidiary CEO succession candidate pool (Long-list)' according to the revised succession plan and will proceed with deliberations for recommending subsidiary CEO candidates in the future.

A committee official stated, "The Shinhan Financial Group board of directors has been discussing improvements to the succession procedures since the first half of last year, and this revision faithfully reflects the 'Best Practice' on governance presented by regulatory authorities at the end of last year."

The committee also said, "Since the subsidiary management succession process has been initiated earlier than in the past, the members will have sufficient time to thoroughly review the candidate pool, and through this, we plan to ultimately recommend the optimal CEO candidate to lead the future of Shinhan Financial Group."

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