Hana Financial Group Begins CEO Succession Process... "Final Candidates to Be Selected in December"

On September 30, Hana Financial Group announced that it had convened the Group Executive Candidate Recommendation Committee and initiated CEO succession procedures for six affiliated companies.

Hana Financial Group Myeongdong Building exterior view.

The six affiliates are Hana Bank, Hana Securities, Hana Card, Hana Capital, Hana Life Insurance, and Hana Savings Bank. The group’s executive candidate committee, which is responsible for recommending CEO candidates for key affiliates, is chaired by an outside director. Among its four members, three are outside directors.

The role of the Hana Bank executive candidate committee has also been significantly expanded. Typically, once a candidate and the reason for their recommendation are submitted, the group committee reviews whether to include the candidate in the standing candidate pool and informs the bank committee of its decision. Starting this year, the group committee’s scope has been broadened beyond simply recommending candidates to also providing input on the final candidate pool. The final candidate pool is shared with the bank committee, and during the evaluation process to select the final candidate, the chairperson of the bank committee attends as the representative to give direct feedback.

After narrowing down the list, the group committee plans to select up to three final candidates for each of the six companies by the end of October and recommend one final candidate for each to the respective affiliate’s committee in early December. The final candidates will undergo an in-depth interview, including a presentation, followed by evaluation scoring and voting, to determine the ultimate candidate. In addition, the group aims to allocate at least two weeks for vetting at each stage to thoroughly review candidates and to enhance fairness and objectivity by applying pre-established evaluation criteria to all candidates.

Wonsookyeon, chairperson of the group executive candidate committee, stated, “This independent, outside director-led committee will proceed with the recommendation process according to a public schedule, based on transparent and fair standards. We will maintain close communication with the bank committee and recommend to each affiliate’s committee the optimal leaders for each business segment, based on competency and performance.”

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