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iM Bank names deputy president as new CEO
Kang Jeong-hun / Courtesy of iM Financial Group
By Lee Kyung-min
Kang Jeong-hun, iM Bank executive vice president, has been recommended as the sole candidate to lead the bank, the bank said Sunday.
According to iM Financial Group, the appointment is viewed as aligning with financial regulators’ best practices guidelines for corporate governance.
The group’s executive candidate recommendation committee held a meeting to make the decision on Dec. 19.
Kang will become the bank’s 15th CEO later this year, after the appointment is approved at an iM Bank’s shareholders’ meeting.
The group said the committee held four meetings starting in September, three months before the current CEO’s term expires.
Born in 1969, Kang joined Daegu Bank, now known as iM Bank, in 1997 and has since held a number of key positions, including head of the group’s future strategy.
He currently heads the management planning group at iM Bank, overseeing strategy and finance.
The group said the committee held in-depth deliberations to find the most suitable candidate who could contribute to iM Bank’s sustainable growth and its transition as a regional-based nationwide commercial bank.
Kang was selected through a fair and transparent process, it added, expressing hopes that customers and shareholders will continue to show their support for the bank.
The committee narrowed the list of five candidates through reputation checks conducted by external professional agencies and management performance reviews.
The selection process then included one-on-one interviews with the group chairman, interviews with outside experts and internal interviews with iM Bank’s board chair and committee members.
Kang also underwent a final evaluation program, including presentations on his vision and business plans as the new CEO.
According to the committee, the internal and external evaluation procedures enhanced the objective and transparent selection process.
In line with the financial regulators’ best governance practices, the group committee’s outside directors and iM Bank’s board chair participated in the evaluations to ensure fairness.