이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
KT to grant greater power to its board as part of governance improvement plans
- Collected
- 2017.02.17
- Distributed
- 2017.02.20
- Source
- Go Direct
According to a senior official at KT, the company is studying the governance structure of companies at home and abroad that the mobile carrier can benchmark. It is expected to come up with specific plans that require final approval from a shareholders meeting slated for March.
Such a move to strengthen the company’s corporate governance comes after the board demanded its reappointed CEO Hwang Chang-gyu to expand KT’s new businesses and improve the company’s governance structure while approving his second term.
The company is said to be considering measures that would allow greater power to board members by expanding a board support organization and strengthening the power of audit committee.
KT is also likely to revise some articles of association. There have been growing calls from its shareholders to change the articles that have no details on the reappointment of CEO. Some have even suggested a program that will nurture the next CEO. A similar program was reviewed by the former chairman Lee Suk-chae in ways to eradicate corruption, but has never been adopted.
KT has no choice other than to give more power to the board of KT, a move that is expected to allow the board to check those who wield excessive power effectively, as it is currently difficult for the company to appoint directors who can represent the National Pension Service (NPS) with a 10 percent stake and overseas shareholders including NTT DoCoMo who account for nearly half of the company’s total stakes excluding NPS shares, said a board member of the company said.
By Lim Sung-hyun
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]