Kakao announced on the 20th that it has newly appointed Shin Jong-hwan as the chief financial officer (CFO) and the financial head representative of the CA committee, which serves as the group's control tower. Shin will also serve as the group CFO, supporting the examination and improvement of financial soundness across the group along with his duties as CFO.
Shin has built his career over 20 years as a financial executive at Samjong KPMG and CJ Group, among others. This appointment is a measure to strengthen the group’s financial management system, and the CA committee has been structured to include five specialized commissioners, such as the management innovation committee and the strategy committee.
Kakao Group has undertaken a personnel renewal by replacing five core affiliate representatives this year and changing 27% of its executives. The company emphasized that it aims to overcome the crisis and create a foundation for a rebound by advancing young leaders and recruiting new talent.