The incumbent CEO Bok-in Baek was selected as New KT&G CEO & President Candidate.
President recommendation committee announced it decided the incumbent president Bok-in Baek as the new president candidate with the endorsing the recommendation of the board of directors. Upon the approval by the shareholders’ meeting in March, Mr. Baek will lead KT&G for another three years.
The recommendation committee said, “Based on the long-term business vision and strategy, motivation for innovation and global business mind, the committee decided the incumbent president Bok-in Baek as the new president candidate. He was highly regarded with his leadership with which he successfully led the company during his three-year term with the industry insight.”
Mr. Bok-in Baek began his career at KT&G (formerly Korea Tobacco & Ginseng Corporation) in 1993, has served in various posts such as marketing, business strategy, production, and research and development and became the first president among the new employees through open recruitment of the Company.
Since his inauguration in 2015, he has transformed KT&G into a globally competitive enterprise and it saw a record high of over $1 billion of overseas sales last year. The Company also successfully released the electronic cigarette ‘ill’ whilst the electronic cigarette market keeps growing domestically.
Mr. Bae is a well-known industry professional with the in-depth understanding on the market based on his know-hows acquired during his career in domestic and overseas markets. The power of planning and prompt action based on strategic thinking has been highly regarded.
I feel extremely responsible to be selected as the new CEO candidate amid rapidly changing industry. I will keep transforming KT&G into a globally competitive enterprise to make KT&G a national company by contributing the nation economy as well.