KT&G Names Final CEO Candidate

KT&G’s CEO candidate recommendation committee has selected Kyung-man Bang, senior executive vice president of KT&G, as the final CEO candidate.

Pending approval at the annual general meeting of shareholders in late March, Bang is set to officially assume the role and lead the company for the next three years.

Bang was chosen following an assessment of each shortlisted candidate based on five criteria: management expertise, global acumen, strategic thinking skills, stakeholder communications and universal morality and ethical awareness.

With a bachelor’s degree in economics from Hankuk University of Foreign Studies and an MBA from the University of New Hampshire, Bang has held various management positions since joining Korea Tobacco and Ginseng in 1998. His extensive experience includes roles such as managing director of brand management, executive managing director of global headquarters, executive managing director of strategy and planning headquarters and chief business officer.

Bang, currently the chief operating officer, played a pivotal role in formulating the company’s mid-to-long term growth strategies. Among other achievements, he successfully launched the ESSE Change brand and expanded KT&G’s overseas market presence to over 100 countries.

“Members [of the CEO candidate recommendation committee] have been fully committed to ensuring transparency throughout the candidate assessment process and fair competition without external interference,” said committee Chairman Myung-chul Kim in a statement.

“I will dedicate myself wholeheartedly to ensuring that KT&G leaps forward as a ‘global top-tier’ company by leading innovation and seizing future growth opportunities,” said Bang.