KT&G Appoints New President: Transforming into Global Leader

News by 2FIRSTS.ai

Apr.01.2024

KT&G Appoints New President: Transforming into Global Leader

KT&G Appoints New CEO in First Leadership Change in Nine Years, Promising Global Expansion and Enhanced Stakeholder Trust.

Recently, according to Naver news, KT&G has replaced its CEO for the first time in nine years. The longtime CEO, Baek Bok-in, stepped down after serving three consecutive terms and was succeeded by senior vice president Bang Kyung-man. During the shareholders' meeting, Bang Kyung-man defeated Sun Dong-hwan, a law professor at Sungkyunkwan University, who received 56.6 million votes, as well as KT&G board chairman Im Min-kyu, who received 24.5 million votes, garnering 84.09 million votes.

As the head of the global headquarters, Bang Kyung-man increased the number of countries to which KT&G products are exported from 40 to over 100, with overseas sales exceeding 1 trillion Korean won. Within the company, he is highly praised for leading the development of medium to long-term strategies centered around three core businesses (overseas cigarettes, e-cigarettes, and health functional foods). A KT&G official said, "His high vote of confidence at the shareholders' meeting indicates that he is widely recognized as the right person to lead KT&G.

After the shareholders' meeting, Bang Kyung-man immediately stated that his goal is to "use the three core businesses as a springboard for development, leap towards becoming a world-class company", and to "share development achievements, increase company value, and establish stronger trust with all stakeholders, including shareholders." He proposed the "T-O-P" management strategy, which aims to improve trust with stakeholders through active communication, ensure competitiveness in the original location, and strengthen global specialization.

References:

[1] 닻 오른 KT&G 방경만號 '주주와 단단한 신뢰 구축하겠다'

Also Read:

[1] KT&G Company Elects New CEO and Chairman of the Board

[2] National Pension Fund Approves Candidates for KT&G Leadership

[3] IBK Corporate Bank Opposes KT&G Executive Appointments

[4] KT&G Launches New HTP Device MIIX UPTOO, Available Nationwide from March 6

[5] KT&G Shareholder Meeting: FCP Supports External Director Candidate

#Traditional tobacco #E-cigarettes #Asia #South Korea #Major companies

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Australia NSW Police Crack Down on Illicit Tobacco Syndicate Under Strike Force Franklin

NSW Police, together with NSW Health and the Australian Border Force, seized more than 18,000 vapes, 1.9 million cigarettes, 74kg of loose-leaf tobacco and five unregistered firearms during a week of action under Strike Force Franklin. Four people were charged following coordinated raids on the Far North Coast. Police said the operation targeted organised crime networks profiting from illicit tobacco sales, with an estimated street value exceeding $2.35 million(1.54 million US dollars)..

Nov.03 by 2FIRSTS.ai

Al Fakher Parent Company Plans U.S. Listing in 2026 at $1.75 Billion Valuation

According to Bloomberg, Dubai-based hookah brand owner Advanced Inhalation Rituals (AIR) plans to go public on Nasdaq in the first half of 2026 through a merger with a Cantor Fitzgerald-backed SPAC. The deal values the combined company at USD 1.75 billion under the ticker “AIIR.”

Nov.11

Congress Calls on FDA to Allocate at Least $200 Million for ENDS Enforcement, Multi-Agency Task Force to Target Illegal e-Cigarette Imports. IKE Tech and Ispire Utilize Blockchain and Age Verification Technology to Support Regulation, Submit Chips as Part

Congress demands FDA allocate at least $200 million for ENDS enforcement; multi-agency task force to combat illegal e-cigarette imports.

Nov.18 by 2FIRSTS.ai

Elf Bar Parent iMiracle to Pull Flavored Vapes From California, Ending Altria Unit NJOY Lawsuit

China’s e-cigarette maker iMiracle, parent company of the Elf Bar brand, has agreed to halt sales of all flavored vaping products in California as part of a settlement with Altria Group’s e-cigarette unit, NJOY LLC, marking the end of a nearly two-year legal dispute.