Shin Dong-bin, chairman of Lotte Group, was reappointed as an inside director of Lotte Corporation.
Lotte Corporation held its 59th regular shareholders meeting on Mar. 24 on the 31st floor of Lotte World Tower in Songpa-gu, Seoul, and handled all proposed agenda items as originally drafted.
The agenda items for this shareholders meeting are six: ▲ approval of financial statements ▲ partial amendment of the articles of incorporation ▲ appointment of directors ▲ appointment of a new audit committee member ▲ appointment of an outside director to serve on the audit committee ▲ approval of the limit on directors' remuneration.
With all items passed, Chairman Shin, Ko Jeong-wook, CEO of Lotte Corporation, and Noh Jun-hyung, CEO of Lotte Corporation, were reappointed as inside directors. Outside directors Lee Kyung-choon and Kim Hae-kyung were reappointed, and Cho Byung-kyu was newly appointed.
In addition, parts of the articles of incorporation were amended to introduce cumulative voting and electronic shareholders meetings, and a new provision on standards for the disposal and holding of treasury shares also passed as originally drafted.
Ko Jeong-wook, CEO of Lotte Corporation, who served as chair, outlined the management direction for enhancing corporate value and achieving sustainable growth in his remarks. As key priorities for this year, he presented strengthening fundamental competitiveness, restructuring businesses and assets, investing in growth engines, and expanding global operations.
Ko said, "We will adhere to a profitability-centered management policy to raise corporate value and lay the groundwork for sustainable growth," adding, "This year, based on tangible turnaround results, we will strive to repay the support from our shareholders."