– Shinhan Bank President Jin Ok-dong and Lim Young-jin, President of Shinhan Card, succeeded in reappointing and will lead each company for the next two years. Sung Dae-gyu, president of Shinhan Life Insurance, has been appointed as the first CEO of Shinhan Life, a group integrated life insurance company that will be launched in July next year.
Most of the CEOs of Shinhan Financial Group’s major subsidiaries were recommended for consecutive appointments, which is said to have contributed to organizational stability.
Shinhan Financial Group held a temporary board meeting with the Subsidiary Management Committee (hereinafter referred to as the Self-Defense Committee) on the 17th, and recommended the presidents of the subsidiaries and personnel management of the holding company. 11 out of 14 CEOs whose terms of office expire at the end of this year and March next year were decided to increase their responsiveness to the difficult business environment facing each company and to discover new business opportunities with a longer view. In many cases, Shinhan Bank President newly appointed a new term of office for one year every two years, but Shinhan Financial Group Chairman Cho Yong-byung has exceptionally given him a term of two more years.
Even in difficult environments such as the Corona 19 crisis and low interest rates and low growth, Jin Ok-dong is evaluated as having contributed greatly to improving the overall performance of the group with a growth strategy focused on superior assets.
– President Lim Young-jin, who had previously served three years, was also given an additional two-year term. President Lim said that although the card industry has deteriorated due to fee cuts and Big Tech’s entry into the market, he is solidifying its No. 1 market share with stable management performance.
It not only promotes new businesses by pioneering the automobile installment market, but also focuses on investing manpower and resources in future core businesses such as My Data and My Payment.
An official at Shinhan Holdings said, “If the CEO’s term of office is operated for two years for new appointments and one year for consecutive tenures, there is a side that focuses on short-term performance rather than promoting mid- to long-term strategies.” “The company will have enough time to demonstrate leadership, and responsible management will be reinforced around the CEO of subsidiaries.”
Shinhan Life Insurance and Orange Life have been newly appointed by Sung Dae-gyu, the current President of Shinhan Life Insurance, and Lee Young-jong, the current vice president of Orange Life, respectively.
President Sung, who has succeeded in reappointing, is expected to become the first CEO of Shinhan Life, the group’s integrated life insurance company to be launched in July next year. Shinhan Capital President Jeong Un-jin and Shinhan Savings Bank President Lee Hee-soo were newly appointed.
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