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[Alpha Biz=(Chicago) Reporter Kim Jisun] Kakao has named Jeong Shin-ah, CEO (48) of Kakao Ventures as the first female CEO
Two days after Kakao founder Kim Bum-soo expressed his willingness to replace management, she is the first female sole representative since its foundation.
Kakao held a recommendation committee for board members on the 13th and appointed Chung, who is in charge of the project at the community CA council, as the new sole representative. Chung will be the first female representative of Kakao after being appointed as the official representative after a board meeting and a shareholders' meeting to be held in March next year.
Naver has been led by CEO Choi Soo-yeon (43) since March last year, and both of the nation's two largest platforms will compete as female CEOs in their 40s.
As for the reason for the nomination, Kakao said, "We judged nominee Chung, who has knowledge and experience in the IT field and has a high understanding of conflicts and difficulties due to the growth stage of the company, as the right person."
Chung graduated from Yonsei University and Yonsei University's Graduate School of Business Administration and received a MBA (Master's Degree in Business Administration) from the University of Michigan's Ross School of Business. He later joined Kakao Ventures in 2014 through Boston Consulting Group, eBay's Asia-Pacific headquarters and Naver. Since 2018, he has been striving to create an ecosystem by discovering advanced technologies such as artificial intelligence (AI) and robots and IT start-ups in various fields such as games and digital healthcare.
In March this year, he joined Kakao as another non-executive director and has improved his understanding of Kakao's business and services. Since September, he has expanded his role and is in charge of the business division of the CA council. Currently, as a standing member of the Management Reform Committee, he is also participating in discussions on the direction of reform.
"We will focus more on core business areas in the future by implementing active responsible management to meet social standards," nominee Chung said. "We will not miss the timing of change because there is not much time given (to Kakao)."
Former CEO Lim Ji-hoon, who served as Kakao's sole CEO from October 2015 to March 2018, filed a lawsuit with Kakao Ventures (formerly K-Cube Ventures) to pay KRW 59.8 billion in bonuses He lost the first trial last month, but is expected to appeal. Kim Sung-soo Kakao Entertainment is suspected of acquiring a drama production company that had been suffering operating losses for years at high prices, while Kakao Mobility CEO Ryu Geung-sun is under investigation by prosecutors and financial authorities, respectively, over allegations of inflated sales.
Even founder Kim is under investigation by prosecutors over the alleged manipulation of SM Entertainment's market price. Hong Eun-taek, who became the sole representative due to the shutdown of KakaoTalk in October after making a surprise appointment for ESG management in July last year, is set to step down in March next year without dealing with the crisis. Representative Hong was also regarded as a trusted figure of founder Kim.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
