The acquisition of M Capital by Saemaeul Geumgo is expected to be completed within this month. Saemaeul Geumgo announced that it will publicly recruit candidates for the position of chief executive officer of M Capital, which will be incorporated as a subsidiary.
According to the Saemaeul Geumgo Central Association on the 7th, once the acquisition of M Capital is completed within this month, there are plans to appoint an interim chief executive officer in place of current chief executive officer Ahn Jung-sik. Although Ahn's existing term is until the end of March, Saemaeul Geumgo explained that it will have an interim chief executive officer until a new chief executive officer is officially appointed to ensure operational efficiency and stabilization after the merger.
In addition, the association has been publicly recruiting candidates for the position of chief executive officer of M Capital since the 2nd. Eligibility includes individuals who meet Article 5 of the Financial Company Governance Act and have over 10 years of experience working full-time at examination target institutions under Article 38 of the laws regarding the establishment of the association, Central Association, Bank of Korea, or the Financial Services Commission, or those with more than 10 years of experience in national institutions, research institutions, or educational institutions related to finance as public officials or full-time employees. Document submission is possible from the 17th to the 18th at the central headquarters of the Saemaeul Geumgo Central Association.
At the end of this month, Saemaeul Geumgo will make the payment for the shares, and the acquisition of M Capital will be completed. After document submission, the candidates will go through committee document review and interview assessments, and the final candidates will be recommended to the M Capital shareholders' meeting. The chief executive officer will be ultimately appointed through resolutions at the M Capital shareholders' meeting (director appointment) and the board of directors (chief executive officer appointment). Until the new chief is ultimately appointed after the acquisition of M Capital is completed, a person recommended by the Saemaeul Geumgo board will be appointed as the interim chief executive officer of M Capital.