KB Financial narrows chairman race to Yang Jong-hee, Lee Jae-keun and Kwon Kwang-seok

KB Financial Group has narrowed its chairman succession race to incumbent Chairman Yang Jong-hee, Lee Jae-keun, head of the group's global, wealth management and SME division, and Kwon Kwang-seok, former Woori Bank president. The Chairman Candidate Recommendation Committee selected the three after first-round interviews and evaluations of six candidates on Aug. 27. Yang's prospects are viewed as relatively strong as he seeks his first reappointment, supported by record earnings and expanded shareholder returns. The committee plans second-round interviews on Sept. 11, a final nomination vote, recommendation procedures by the committee and board on Oct. 2, and appointment at an extraordinary shareholders meeting in November. Governance reforms under review by financial authorities and a special tax audit of KB Kookmin Bank remain issues being monitored.

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