[2nd Report] Lee Hwan-joo, CEO of KB Life Insurance, Nominated as Candidate for KB Kookmin Bank President

▲Lee Hwan-joo, Nominee for President of KB Kookmin Bank

On the afternoon of the 27th, KB Financial Group held the 'Affiliate CEO Candidate Recommendation Committee' and announced that it had selected Lee Hwan-joo, CEO of KB Life Insurance, as the sole candidate for the next KB Kookmin Bank president.

Although it requires approval at the shareholders' meeting, since KB Financial Group holds 100% of KB Kookmin Bank's shares, Lee's appointment as president is highly likely.

The recommendation committee described Lee as "the first case of a KB Financial affiliate CEO becoming the bank president," and praised him as "a manager who aims for organizational stability and soundness while demonstrating outstanding performance across all areas of KB Financial, including the holding company, bank, and non-bank sectors."

Lee joined KB Kookmin Bank in 1991 and has served as branch manager of Gangnam Kyobo Sageori Branch, Star Tower Branch, head of Sales Planning Department, head of Foreign Exchange Business Division, executive director of the Personal Customer Group, vice president of the Management Planning Group, and executive vice president and CFO of KB Financial Group. In 2021, he worked as CFO at KB Financial Group before moving to become CEO of KB Life Insurance (formerly KB Life Insurance) in 2022.

Initially, it was widely expected within and outside KB Financial that the current president Lee Jae-geun would be extended for one more year, but with the committee's decision on this day, President Lee will conclude his term at the end of this year.

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