Board of directors meeting reappoints CEO
Chief Executive Jeong Young-chae will lead NH Investment & Securities over the next two years as the brokerage reappointed him during the board of directors meeting on March 5.
The brokerage house also appointed five other executives, who will be officially approved during the shareholders’ meeting slated for March 25.
The Seoul-based company also decided to pay out 500 won dividend per share and 10 percent more for holders of preferred stock.
CEO Jeong, who studied at Seoul National University, has spearheaded NH over the past two years to make the outfit one of the most profitable players in the Korean market.
NH Investment was launched in 2006 when Sejong Securities was incorporated into the National Agricultural Cooperate Federation, otherwise known as Nonghyup.
Currently, its largest shareholder is NH Financial Group, with a stake of 76.09 percent.
Market observers said that the reappointment of Jeong had been widely expected.
“CEO Jeong has come up with solid performances over the past two years. Accordingly, he was projected to take charge of the brokerage two more years,” a Seoul analyst said.
“It remains to be seen what other projects the CEO will focus on over the next two years.”