KB Financial begins choosing next CEO

Three outside personnel search bodies to shortlist bets for interview May 20 and selection by mid-June.

KB Financial Group will come up with a group of candidates for its presidency by the middle of this month and finalise its choice next month.

The recommendation committee of outside directors held a meeting in Seoul, Wednesday, and decided that nominees will be selected for interview by May 20 and the finalist picked by mid-June.

If the finalist earns a final nod at a shareholders' meeting, he will be inaugurated for a three-year term.

Current Kookmin Bank CEO Kang Chung-won was nominated as group leader, but withdrew.

To bring transparency to the process, three outside personnel search organisations will be used to create a pool of candidates.

View the full story in the Korea Times.