IM Financial Group said on the 22nd that it has begun procedures to appoint the next IM Bank president. The move follows Chairman Hwang Byung-woo of IM Financial, who is concurrently serving as IM Bank president, saying he will focus on running the group.
The IM Financial Group Executive Candidate Recommendation Committee held a meeting on the 19th, decided to begin the succession process, and established the principles and procedures for appointing the president. The selection of the next president is expected to be completed in December after a long-list selection, a short-list selection, and a final candidate recommendation.
The committee said it will enhance objectivity and fairness in evaluations by having an external professional institution and committee members participate at each evaluation stage. In particular, to ensure fairness among candidates, it will also conduct an external institution's "reputation check" and an external expert's "finance and management expertise interview."
Cho Kang-rae, the committee chair, said, "We will do our best to find the most suitable person who can provide better financial services and strengthen the bank's social role to drive sustainable growth."