Moon Hong-seong, the Audit Committee Chair of Mirae Asset Securities and an outside director, has resigned before completing his term. His departure has resulted in the Audit Committee falling short of the legal requirements for its composition. The company plans to request the appointment of a temporary director from the court to fill the vacancy.
According to the financial investment industry on August 26, Mirae Asset Securities announced that Moon resigned voluntarily due to personal reasons the previous day. His term was set to last until the regular shareholders' meeting in March 2027, but he stepped down approximately seven months early.
With Moon's resignation, the number of registered directors at Mirae Asset Securities has decreased from seven to six. The number of outside directors has also dropped from four to three, reducing the proportion of outside directors from 57.1% to 50.0%.
The resignation has created a gap in the Audit Committee's composition. Mirae Asset Securities explained in its announcement that the resignation of an outside director who serves as an audit committee member has led to a failure to meet the requirements set forth in the Financial Company Governance Act.
In response, the company will seek the appointment of a temporary director from the court to address the vacancy. This provision allows the court to appoint someone to perform the duties of a director temporarily when the number of directors falls below the legal or statutory requirement.
Moon was appointed as an outside director of Mirae Asset Securities on March 27, 2022. He was reappointed at the regular shareholders' meeting in March and had been serving as the Audit Committee Chair.
Born in 1964, Moon graduated from Seoul National University with a degree in economics and later obtained a Ph.D. in economics from the University of Missouri in the United States. He began his career with the International Monetary Fund (IMF) and held positions in the Ministry of Finance and Economy and the Ministry of Strategy and Finance, focusing on international finance. He also served as an administrative officer in the Presidential Office and as the Director of the International Finance Bureau at the Ministry of Finance.
In 2010, he joined the Doosan Group, where he held various roles, including head of the Strategic Support Office, Chief Strategy Officer (CSO), and head of the New Business Division. In 2022, he was appointed as the CEO of Doosan and has been serving as an advisor since stepping down from that position last year.
* This article has been translated by AI.
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