Saemaeul Geumgo Central Association Establishes Subsidiary CEO Candidate Recommendation Committee

Enhancing Fairness and Transparency in the CEO Appointment Process

Saemaeul Geumgo Central Association announced on the 4th that it established the Subsidiary CEO Candidate Recommendation Committee on the 21st of last month to enhance fairness and transparency in the process of appointing subsidiary CEOs.

The committee is composed of a majority of external members and operates independently to review and select subsidiary CEO candidates, then recommends the final candidates to each subsidiary.

The methods for recruiting candidates and evaluation criteria are decided by the committee's resolution. At the committee meeting scheduled for early February, matters related to recruiting CEO candidates for M Capital, which is currently undergoing acquisition procedures, will be reviewed and resolved.

Saemaeul Geumgo Central Association currently has five subsidiaries: Saemaeul Geumgo Welfare Foundation, MG Asset Management, MG Credit Information, MGTV, and MG Data System, in addition to M Capital, which is planned to be acquired.

Kim In, Chairman of Saemaeul Geumgo Central Association, stated, “With the establishment of the Subsidiary CEO Candidate Recommendation Committee, we aim to enhance fairness and transparency in the appointment process of subsidiary CEOs and expand new growth engines for subsidiaries by recommending capable and reputable candidates. We will continue to emphasize fairness and transparency in overall management to maintain the trust of the Geumgo and the Central Association.”

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