Aloys Resolves Management Dispute Under CEO Shin Jeonggwan, Changes Name to Atlaslink
After resolving its management rights dispute, Aloys has changed its name to Atlaslink and solidified its leadership structure under CEO Shin Jeonggwan.
On June 12, Aloys announced that the proposal to dismiss internal directors, including CEO Shin Jeonggwan, was voted down at an extraordinary general shareholders' meeting held on that day. This outcome is expected to eliminate management uncertainty and boost responsible management centered around CEO Shin and the current leadership team.
The company name has been changed to Atlaslink. Atlaslink plans to maximize synergies with Mirae Industries, its soon-to-be largest shareholder, and to secure new growth engines for the future.
Since the beginning of this year, Atlaslink has been embroiled in a management dispute between the current leadership and former CEO Kwon Chungshik. The conflict was resolved when Mirae Industries agreed on June 8 to acquire approximately 12.75 million shares of Atlaslink, including those held by CEO Shin and former CEO Kwon, for KRW 20.4 billion.
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CEO Shin stated, "Now that all disputes have concluded and the CEO Shin Jeonggwan leadership structure remains firmly in place, we will make every effort to enhance shareholder value and drive company growth by executing our promised new businesses without delay, in line with the name change."
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