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KB Financial Group seeks extended term of banking unit CEO
KB Kookmin Bank CEO Lee Jae-keun / Courtesy of KB Kookmin Bank
By Lee Kyung-min
KB Financial Group recommended extending the term of KB Kookmin Bank CEO Lee Jae-keun, the lender said Friday.
A recommendation committee under the group decided Thursday that the term for the current bank CEO should be extended by one year, the maximum period allowable for CEOs of group affiliates.
Lee, the committee said, outlined detail-oriented growth strategies for major group business, underpinned by his extensive experience in sales, finance and strategy formulation.
The CEO is known for prioritizing communications- and action-driven horizontal leadership and organization management capabilities.
“Since the appointment as KB Kookmin Bank CEO in 2022, Lee has demonstrated excellent performance over the past two years despite unfavorable business conditions including the COVID-19 pandemic and global economic downturn,” the committee said.
“His capabilities, leadership and management have led to sustainable growth of the group. Lee leads by example through implementation instead of planning.”
The committee added that the need for stable organizational management is key, a quality well demonstrated by him over the past two years.
“We expect Lee to respond to challenging issues for the bank to navigate the slowing economy and the ‘mutual growth’ drive by the government next year, under the broader context of promoting long-term and consistent management strategies.”
KB Kookmin Bank will hold a committee this month to have an in-depth interview before finalizing the appointment of Lee. The motion to recommend him will be approved during a general shareholders meeting before the year's end.