The Woori Financial Group Executive Candidate Recommendation Committee (Nominations Committee) announced on the 2nd that it has finalized a shortlist of four candidates for the next chairman, including current chairman Lim Jong-ryong and Woori Bank president Jung Jin-wan. Two external candidates have also been included in the shortlist. The external candidates will remain confidential to protect their personal information.
Since starting the management succession process at the end of October, the Nominations Committee has evaluated the candidates based on criteria such as management performance through internal and external expert evaluation agencies, CEO development program results, and leadership reputation assessments. After conducting interviews with the longlist candidates on the 1st, the committee finalized the shortlist candidates.
Lee Kang-haeng, chairman of the Nominations Committee, stated, “We conducted the procedures based on independence and fairness, reflecting best practices in corporate governance in our succession regulations and plans,” adding that “we held a pre-orientation for external candidates, providing materials on the current state of the Group’s management and a Q&A session to enhance their access to information.”
The Nominations Committee will subject the four shortlisted candidates to further scrutiny over the course of the next month. This process includes multiple interviews with external experts, management plan presentations by each candidate, and in-depth interviews. The candidate ultimately selected by the committee will be officially appointed as the next chairman following approval at the regular general meeting of shareholders scheduled for March next year, after being confirmed by the board of directors.