Friday, February 28, 2014

POSCO to replace five CEOs

POSCO Group is to replace CEOs at five of its six business units as part of the newly-named chairman Kwon Oh-joon’s reform plan to overhaul the world’s fifth-largest steel maker. On Friday, POSCO affiliates announced the key agenda of their shareholders’ meeting planned on March 17, including candidates of new in-house directors who are likely to be named their new CEOs. According to their statement, POSCO's Shin Jung-suk is the only one who will retain his job due to his successful management performance.

Wow!  Might steel producers in European benefit from similar treatment? I bet they would...

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