ISS backs Lee Jae-keun's appointment as KB Financial chairman
Institutional Shareholder Services (ISS) has recommended that shareholders vote in favor of appointing Lee Jae-keun as chairman of KB Financial Group. In its voting recommendations report obtained by The Korea Times, Sunday, the world's largest proxy advisory firm said "a vote for this resolution is warranted given the absence of any known issues concerning the nominee and the company's board…
Institutional Shareholder Services (ISS) has advised shareholders to vote for Lee Jae-keun as chairman of KB Financial Group. According to a report by The Korea Times, the renowned proxy advisory firm believes there are no concerns regarding the nominee and the company's board structure. ISS highlighted that KB Financial Group follows good disclosure practices, voluntarily sharing attendance records of committee meetings, which assists shareholders in evaluating the performance of directors.
While most Korean companies follow a disclosure template from the Korea Exchange that does not require committee attendance records, ISS pointed out that KB Financial Group provides this information voluntarily. The recommendation was made ahead of the extraordinary shareholders meeting on November 20, where shareholders will decide on Lee's appointment as the group's chairman. If elected, Lee will take over as the head of KB Financial Group.
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Also reported by 1 other outlet
- ISS backs Lee Jae-keun's appointment as KB Financial chairman koreatimes.co.kr
