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KT&G Corporation, known initially as Korea Tobacco & Ginseng Corporation, is a leading tobacco group in the country. On Thursday, Feb. 22, it said it picked Bang Kyung Man as its next chief executive officer.
According to Korea Joongang Daily, KT&G tapped its current senior executive vice president as its new chief. The firm's CEO Candidate Recommendation Committee chose him as the final candidate for the role.
New Leader Announcement
KT&G said Bang will eventually become the new CEO once the shareholders and the rest of the management give their approval. He will then be declared the next leader at the upcoming general shareholders' meeting that was set to take place in March.
Bang is a company veteran who has been with KT&G since 1998. Throughout his long tenure, he has held different positions in various units, including marketing, branding, and global strategy.
About Bang Kyung Man
The soon-to-be CEO of KT&G graduated from Hankuk University of Foreign Studies with a bachelor's degree in economics. He also earned his MBA from the University of New Hampshire in the U.S. In his current role as chief operating officer, he is said to have contributed greatly to driving growth across the company's business areas: health functional food, overseas combustibles, and next-generation products.
"Members have been fully committed to ensuring transparency throughout the candidate assessment process and fair competition without external interference," KT&G's chairman of the CEO candidate recommendation committee at KT&G, Kim Myung Chul, said in a press release.
Kim also thanked all the executives who participated in the selection process and expressed gratitude to all the company's stakeholders as well. On the other hand, Bang Kyung Man commented on his selection, "I will dedicate myself wholeheartedly to ensuring that KT&G leaps forward as a 'Global Top-tier' company by leading innovation and seizing future growth opportunities."
Photo by: KT&G Press Release
