POSCO Introduces Four-CEO Management System
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POSCO Introduces Four-CEO Management System
Park Gi-hong and Kim Jun-shik promoted to CEO & President

30(Tue), Apr, 2013

     (clockwise) POSCO Chairman & CEO Chung Joon-yang; President & CEO Park Gi-hong; President & CEO  Kim Jun-shik;  

     Vice President & CEO Jang Inhwan and Vice President Kim Eungkyu.

POSCO held the 45th Ordinary General Meeting of Shareholders on March 22 at the Seoul POSCO Center, during which former CEO of IBM Korea Shin Jae-cheol and Prof. Lee Myeong-wu of Hanyang University were elected as outside directors, along with Vice President Jang In-hwan and Managing Director Kim Eung-kyu as internal directors. 

Outisde director Lee Yeong-seon, who once served as president of Hallym University, was elected Chairman of the Board of Directors at this meeting. Vice President Park Gi-hong and Kim Jun-shik were promoted to CEO president, Vice President Jang Inhwan to CEO vice president, and Managing Director Kim Eungkyu to vice president. 

External Director Shin Jae-cheol served as CEO president of LG CNS and IBM Korea, External Director Lee Myeong-wu was vice chairman of iRiver and chairman of Sony Korea and is currently a professor at Hanyang University. 

CEO President Park Gi-hong served as CEO of POSRI, head of the Management Strategy Division and Growth Investment Business Division, and CEO & President Kim Jun-shik also served as head of Gwangyang Steelworks and the Stainless Business Division. 

CEO & Vice President Jang In-hwan served as head of the Hot-rolled Marketing Division, CEO president of POSCO P&S, and head of the Growth Investment Business Division, while Vice President Kim Eung-kyu served as head of the POSCO Energy Management Support Division, Talent Innovation Division, and CR Division. 

CEO Chung Joon-yang said in his greetings that by securing exclusive technological competitiveness and through innovative management, he will simultaneously strive for the success of both the company and customer, realizing “value management.”

Investments will especially be based on financial soundness, placing weight on stability, and steel businesses in strategic regions overseas will also move forward. 

He also added that increased productivity and heightened operation efficiency will be added to existing hardware improvements, carrying out activities such as continuous management innovation, a change in the way of working, and improving individual capabilities to strengthen the essential constitution of the company and proactively overcome the current crisis. 

At the shareholders meeting with 200 shareholders including overseas shareholder representatives and institutional investors attending, a total dividend of 8,000 won per share including an interim dividend of 2,000 won was decided upon. 

45th Founding Anniversary

CEO Chung Joonyang emphasized rearming with the founding spirit and activities of sharing thanks 

On April 1, POSCO’s employees pledged to make a new start as part of the company’s 45th founding anniversary, emphasizing their will to overcome the crisis due to global economic stagnation and be reborn as a “loved company.”

POSCO CEO Chung Joon-yang and 800 employees attended the ceremony commemorating the 45th founding anniversary of the company, held on March 29 at the Gwangyang Baekun Art Hall. 

Employees, together with the Gwangyang City Resident Self-Administration Center Women’s Society, held Namdo samulnori and drum performances at the opening of the event so all attendees could enjoy, and the POSCO Family Choir delivered the meaning of harmony and win-win through a bright and powerful song. 

CEO Chung, in his speech commemorating the founding, expressed his determination and will for the entire POSCO family to seek greater harmony and unity to overcome the recent difficult management environment. 

Chung said, “POSCO was born under President Park Chung-hee’s determination and planning that a steelworks is necessary for a country to modernize,” quoting Honorary Chairman Park Tae Joon’s last speech. “POSCO’s current name value, which is based on the past 45 years of the founding generation’s inheritance, is only temporary, so we must not become haughty or settle into thinking that we are currently the leader of the steel industry.” 

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