The selection of the next president of Nonghyup Bank has once again failed to materialize. Following the first Board of Directors Selection Committee (hereinafter "Selection Committee"), the second committee also produced an identical result, with incumbent President Shin Hak-ki receiving 3 votes and Lee Hyung-joo, head of the Financial Intelligence Unit (FIU), receiving 2 votes. The Selection Committee decided to hold one more meeting without re-opening the recruitment process to continue the selection of a candidate.
According to financial industry sources on the 6th, Nonghyup Bank's Selection Committee held its second meeting that morning to discuss the selection of the next president but failed to decide on a final candidate. The voting results showed that President Shin received 3 votes and Director Lee received 2 votes. At the first Selection Committee held on the 22nd of last month, opinions were also split with 3 votes for President Shin and 2 for Director Lee.
Nonghyup Bank's Selection Committee is composed of a total of five members: three commissioners recommended by the government side and two recommended by the Nonghyup Central Union side. The government-side commissioners are outside director Kim Byung-gyu (recommended by the Ministry of Economy and Finance), outside director Park Kyung-chul (recommended by the Ministry of Oceans and Fisheries), and outside director Lim Hyung-jun (recommended by the Financial Services Commission). From the Nonghyup Central Union side, Song Gwang-bok, head of the Buan Nonghyup cooperative, and Jeong Seung-man, head of the Gyeonggi Nonghyup cooperative, are participating as Selection Committee members.
Following the first meeting, the two commissioners from the Central Union side maintained their support for President Shin in this round as well, and one government-side commissioner also continued to support President Shin after having done so in the first meeting. On the other hand, it was reported that Director Lee retained the support of the two government-side commissioners who had backed him in the first meeting.
As with the first meeting, the votes of the government-side commissioners were split at the second Selection Committee as well, meaning the 3rd-to-2 structure remained unchanged.
The Selection Committee decided not to immediately launch a re-recruitment process. It plans to hold one more Selection Committee meeting regarding the existing candidates to continue deliberations. In the financial industry, it is assessed that the outcome of selecting the next president will now hinge on whether the voting preferences of the government-side commissioners change.
in FINANCE
