iM Financial Begins Process to Select Next Chairman... Final Candidate to Be Recommended in December

[Financial News] The Chairman Candidate Recommendation Committee of iM Financial Group (the Committee) announced on the 28th that it had held a meeting and would launch the succession process to select the next chief executive officer (CEO).
The Committee outlined the following principles for selecting the CEO: ensuring procedural legitimacy and transparency; enhancing the diversity of the candidate pool and fairness in evaluations; selecting a final candidate with the necessary qualifications and capabilities; and strengthening the independence of the Chairman Candidate Recommendation Committee.
The Committee has formed and managed standing internal and external candidate pools based on the CEO qualifications disclosed in advance. Internal candidates have been continuously developed and managed through an ongoing management system, while external candidates have been identified broadly through multiple professional executive search firms to diversify the pool.
The detailed succession process will consist of three stages of screening: Stage 1, selecting a longlist; Stage 2, selecting a shortlist; and Stage 3, selecting the final candidate.
External experts will participate in the evaluations, and the Committee's role will be strengthened to enhance the objectivity and fairness of the candidate screening process. In particular, the Committee plans to expand in-depth interviews during the selection of the shortlist and final candidate to closely assess each candidate's management philosophy, the group's future vision, leadership, and management capabilities. Through this process, the Committee will directly verify candidates' qualifications and capabilities and take a leading role through the recommendation of the final candidate.
The Committee plans to select the longlist by the end of October, finalize the shortlist by the end of November following in-depth evaluations at each stage, and recommend the final candidate in December. The aim is to ensure fair competition by extending the substantive evaluation and screening period compared with previous processes, allowing sufficient time to assess candidates' capabilities and suitability at each stage and giving external candidates adequate time to prepare for and undergo the screening.
To improve the transparency of the succession process, the Committee plans to disclose the number of candidates on the longlist and, subject to the candidates' consent, release the names on the shortlist as well. The Committee intends to protect candidates' personal information and rights while satisfying shareholders' and the market's right to know and enhancing external confidence in the succession process.
Jo Gang-rae, chair of the Chairman Candidate Recommendation Committee, said, "We will faithfully fulfill the Committee's fundamental role through sufficient screening periods and transparent evaluations so that we can recommend the best candidate to lead iM Financial Group's successful establishment as a nationwide financial group and its sustainable growth."
[email protected] Ye Byung-jung Reporter