KT&G Board Removes CEO Priority Reappointment Clause, Raising Pressure on Baek Bok-in’s Reappointmen

The board of KT&G in South Korea has removed the clause for priority reappointment of the CEO, raising industry concerns. Whether CEO Baek Bok-in will decide to seek reappointment has become a hot topic, and although he has not announced his decision, the likelihood of his reappointment is diminishing.

According to a report by South Korean media Inews on December 12, KT&G has attracted industry attention as its board has removed the clause for prioritizing reappointment based on government policy. This has put more focus on Baek Bok-in, the CEO with the longest tenure.

Although Baek Bok-in has not revealed whether he will seek reappointment, the pressure from public opinion is continuously reducing the chances of his reappointment.

This action by the board is interpreted as a move to follow the current government's criticism of the practice of self-reappointment, signaling an end to the company's habit of