Meritz Securities Gives Positive Evaluation on KT&G Chairman Appointment

News by 2FIRSTS.ai

Feb.26.2024

Meritz Securities Gives Positive Evaluation on KT&G Chairman Appointment

Meritz Securities praises KT&G's appointment of Bang Kyung-man as new chairman, anticipating business growth and shareholder rewards under his leadership.

According to a report by the Korean news agency Yonhap on February 26, the securities company Meritz Securities gave a positive evaluation on the appointment of Bang Kyung-man as the new chairman of KT&G. Analysts expect his tenure to bring business growth and strengthened shareholder returns measures.

According to reports, KT&G announced on the 22nd of this month that Bang Kyung-man is expected to succeed as the company's president. Kim Jung-wook from the research department of Meritz Securities analyzed that Bang's extensive industry experience will play a leadership role in the company's mid- to long-term development strategy focusing on e-cigarettes, health functional products, and the global CC core businesses. The KT&G president nomination committee announced on the 22nd that Bang Kyung-man has been selected as the final candidate for the next president and recommended to the board of directors.

The appointment of the next CEO and president will be decided at the annual shareholders meeting scheduled for the end of March. However, activist fund Flashlight Capital Partners (FCP) recently criticized KT&G's president selection process and has written to the National Pension Service urging them to exercise their voting rights in the election. This fund previously prevented the re-election of the CEO of KT Corporation in late 2022 and recently criticized the selection process for the next chairman of POSCO, raising concerns about whether they will exercise their voting rights at the upcoming shareholders meetings of KT&G next month.

References:

[1] 메리츠 " KT&G 방경만 사장 후보 확정으로 주주환원 강화 예상"

Also Read:

[1] KT&G Senior Vice President Bang Kyung-Man Recommended as President

[2] Son Dong-hwan Recommended as Independent Director for KT&G by KDB

[3] KT&G Prepares to Decide New CEO Amid Controversy

#E-cigarettes #Asia #Market #South Korea #Executive appointment

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

JT Launches Ploom AURA “Navy Blue” Edition with a Limited-Time Half-Price Offer

From Oct 14, JT will sell the Ploom AURA “Navy Blue” nationwide at convenience stores and select tobacco retailers; the starter kit will be ¥1,480 (down from ¥2,980) from Oct 13–Nov 9.

Oct.09

Sarawak Cabinet Approves Gradual Ban on Vape Products to Curb Rising Youth Use

The Sarawak Cabinet has agreed to implement a phased ban on vape products amid growing concern over rising use among youths. Welfare, Community Wellbeing, Women, Family and Childhood Development Minister Datuk Seri Fatimah Abdullah said the move demonstrates the state’s firm commitment to safeguarding young people’s health and future.

Nov.17 by 2FIRSTS.ai

PMI Launches New ZYN Nicotine Pouch in the Philippines, Available Simultaneously at IQOS Stores and on the Official Website

PMI’s Philippine affiliate, PMFTC, has launched the new ZYN Bright Green 1.5 mg nicotine pouch in Manila with refreshed packaging, calling it the latest step in the company’s “smoke-free” transition initiated in 2016. The product will be available starting in November at IQOS stores across Metro Manila and on the official website.

Nov.10 by 2FIRSTS.ai

South Australia Issues Closure Orders to 100 Stores over Illicit Tobacco and Vapes

South Australia has imposed 28-day closure orders on 100 stores caught selling illicit tobacco and vapes since new ministerial powers took effect on 5 June. The State Government has seized about $50 million worth of illegal products, including over 41 million cigarettes, 140,000 vapes and 13,585 kilograms of loose tobacco. Two long-term closure orders have been issued and five more are before the Magistrates Court, supported by a $16 million illicit tobacco taskforce and tough new penalties.