iM Financial Holdings Initiates Management Succession Process for iM Bank President Appointment

The iM Financial Holdings Group Executive Candidate Recommendation Committee has initiated the management succession process to appoint the next president of iM Bank.

In accordance with the company's internal regulations, the committee convened on September 19, three months prior to the expiration of the current bank president's term, to officially begin the succession process and establish the principles and procedures for the appointment of the next bank president.

The appointment process and timeline will proceed through the selection of a long list, a short list, and the recommendation of the final candidate, and is expected to be completed in December. As President Hwang Byungwoo has expressed his intention to step down, the committee plans to develop detailed procedures for each stage to ensure that the selection process for the next bank president is carried out fairly and objectively.

The committee has enhanced the objectivity and fairness of the evaluation by involving external professional institutions and committee members at each stage of the assessment. In particular, to ensure fairness among candidates, the process will include external institutions conducting reputation checks and external experts interviewing candidates on their financial and management expertise. The committee also plans to fully guarantee the role of the bank's board of directors, aiming to maintain its reputation as a model financial group with exemplary governance.

Cho Kangrae, chairman of the committee, stated, "The Group Executive Candidate Recommendation Committee will do its utmost to fulfill its role through a fair and transparent process to find the most qualified individual who can lead iM Bank, as a commercial bank, to provide better financial services, protect financial consumers, and strengthen the bank’s social role for sustainable growth."

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