Kolmar Group Chairman Yun Dong-han will gift 9.84618 billion won worth of company equity to his daughter, Kolmar BNH CEO Yun Yeo-won.
According to the Financial Supervisory Service's electronic disclosure (DART) on the 28th, Chairman Yun disclosed that on the 28th of next month he will gift 692,418 shares of Kolmar BNH to CEO Yun. The amount is valued at 9.84618 billion won. Changes related to equity gifts are required to be disclosed one month in advance.
With this gift, CEO Yun's equity in Kolmar BNH will increase by 2.35 percentage points (P), from 6.54% to 8.89%.
Kolmar BNH's largest shareholder is the holding company Kolmar Holdings (44.63%). Even after the gift is completed, Kolmar BNH's equity structure will not change significantly.
This equity gift is the first since Chairman Yun finalized the succession framework in 2019. In 2019, Chairman Yun put the cosmetics business under his son, Kolmar Holdings Vice Chairman Yun Sang-hyeon, and the health functional foods business under his daughter, CEO Yun, and gifted 2.3 million shares of Kolmar Holdings to the vice chairman. After the gift, the vice chairman became the largest shareholder with 31.75% equity in Kolmar Holdings.
Meanwhile, Kolmar Holdings plans to hold an extraordinary shareholders meeting on the 29th in Sejong, North Chungcheong. Convened at Chairman Yun's shareholder proposal, the meeting was set to table an agenda to appoint 10 new directors drawn from Yun's closest aides.
However, ahead of the meeting, 7 of the 10 inside and outside director nominees resigned voluntarily. As a result, analysis suggests the extraordinary meeting is likely to effectively serve as a procedure to reaffirm the vice chairman Yun's leadership.
Earlier, on the 14th, Kolmar BNH held a board meeting and shifted to a three-CEO, singly representative structure of Yun Sang-hyeon, Yun Yeo-won, and Lee Seung-hwa.
In this process, overall management of Kolmar BNH will be handled by newly appointed CEO Lee Seung-hwa, while CEO Yun stepped back from management to focus on the social contribution sector. Vice Chairman Yun will serve in an advisory role to help the multi-CEO structure settle in stably.