Woori Financial Group has initiated the management succession process to select its next bank president. The company plans to enhance the appointment procedure by expanding the role of the Bank Executive Candidate Recommendation Committee and incorporating external expert verification.
On September 30, Woori Financial announced the commencement of the bank president succession process during a meeting of its subsidiary CEO Candidate Recommendation Committee. The group has been reviewing the existing succession procedures centered around the subsidiary committee and has decided to improve the process by expanding the role of the Bank Executive Candidate Recommendation Committee.
A new procedure will be established within the Bank Executive Candidate Recommendation Committee to assess management performance. External experts will also participate in the verification process, ensuring that management performance is evaluated from both internal and market perspectives.
Key criteria and procedures for each major stage of the succession process will be established in advance. This aims to enhance the fairness and objectivity of the bank president selection process.
A representative from Woori Financial's subsidiary committee stated, "The appointment of the bank president and subsidiary representatives is a crucial decision that will determine the future of Woori Financial. Based on the improved procedures, we plan to diligently operate the succession process to select the most qualified candidate based on management capabilities."
* This article has been translated by AI.
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