NACF Launches Drastic Self-Reform... Embarking on Executive Personnel Overhaul

[Financial News] The National Agricultural Cooperative Federation (NACF) has declared its intention to undertake a drastic self-reform and launch a comprehensive personnel overhaul. The organization plans to pursue both internal promotions and the recruitment of external experts, while also replacing underperforming executives and restricting post-retirement reemployment, aiming to enhance integrity and professionalism. This fundamental transformation is intended to help overcome management crises and restore public trust.
On the 10th, NACF announced its 'NH Nonghyup Group Executive Personnel Reform' plan to restore trust and overcome management challenges, stating that the new standards will be applied immediately starting with the personnel appointments scheduled for December.
NACF will first strengthen performance evaluations and expertise verification for all full-time executives and executive managers, including CEOs and executive directors of the federation and its affiliates. Executives with insufficient management performance or lacking professional expertise will be replaced on a large scale.
An NACF official explained, "The key is to establish a performance-based personnel principle and instill a culture of responsible management throughout the organization."
New executive appointments will not only involve internal candidates but also expand the recruitment of external experts. In addition, reemployment of retirees, which has recently become a controversial issue, will be fundamentally restricted to increase transparency and boost public trust in NACF.
Following this personnel overhaul, NACF plans to announce additional high-intensity reform measures to realize a fair and transparent 'Nonghyup for the People.' These measures are expected to include the advancement of governance structures, zero tolerance for corruption and accidents, scaling up agricultural cooperatives through mergers, and plans for relieving farmers’ debt.

spring@fnnews.com Lee Bo-mi Reporter