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The so-called siblings around Hanjin Group's management are getting serious. Sister Cho Hyun-ah, former vice president of Korean Air, has joined hands with major shareholders, and Chairman Cho Won-tae is said to be working on a plan for management renewal to persuade shareholders.
Reporter Chung Sung-jin on the sidewalk.
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The cards presented by former vice president Cho Hyun-ah, private equity fund KCGI, and the Peninsula Construction Trilateral Alliance are the introduction of a professional management system.
The holding company's board of directors, Hanjin Kal, plans to hold a voting right next month in order to drive Cho Won-tae out.
In response, Chairman Cho Won-tae is expected to announce a shareholder-friendly policy that will attract institutional investors and small shareholders as early as this week, including investment and dividend expansion.
Chairman Cho Won-Tai's boarding in the Wuhan charter last week was also an image renewal strategy.
Chairman Cho Won-tae believes it will be difficult for his mother, Lee Myung-hee and Cho Hyun-min, to be the former vice president of Cho Hyun-ah.
[Hanjin Group official: Cho Hyun-a couldn't come back, crossed the river, and his bridge was broken. Lee Myung-hee told me about it.]
When Chairman Cho Won-tae gathers friendly forces, including his mother and younger brother, Hanjin Kal will have a 33% stake, slightly ahead of the trilateral coalition, including former vice president Cho Hyun-ah.
Since neither side can guarantee a victory, the management direction will depend on the choice of institutional investors and individual investors, including the National Pension System.
[Lee Sang-heon / Hi Investment & Securities Research Institute: (Hanjin Group) As the shareholder and governance structure improves, we believe that the direction of the shareholders' meeting will be decided depending on which way to maximize shareholder profit.]
The three-party alliance also decided to disclose a list of internal directors for recommendation as a professional manager with additional measures to maximize shareholder profit.
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2020-02-03T23:25:26.732Z
The so-called siblings around Hanjin Group's management are getting serious. Sister Cho Hyun-ah, former vice president of Korean Air, has joined hands with major shareholders, and Chairman Cho Won-tae is said to be working on a plan for management renewal to persuade shareholders.
Source: sbskr