KOREA's Hyundai Merchant Marine has announced that its board of directors had approved the appointment of Jae-hoon Bae as president and CEO.
The announcement does not mention former chief executive CK Yoo, whose "farewell message" was distributed to HMM staff last month.
A search committee led by Korea Development Bank selected Mr Bae "following a comprehensive candidate examination. Before his formal appointment.
Mr Bae came to the office to meet HMM's senior executives and thoroughly checked current and future business conditions for the company.
The board of directors affirmed Bae as president and CEO prior to the HMM shareholders meeting Thursday in Seoul, South Korea.
Mr Bae, an expert in logistics who successfully served as CEO of Pantos Logistics for six years, is favoured because of his broad understanding and capabilities in terms of sales negotiation, global management and organisational management."
Mr Bae joined LG Semicon as a marketing director in 1990 and was promoted to president of LG Semicon America Inc in 1997. He was named vice president of LG Electronics MC for overseas marketing in 2004.
Mr Bae was CEO of Pantos Logistics from January 2010 to January 2016.
Reference HKSG-GROUP
