Korean Air shareholders vote against re-election of CEO Cho as director
Written by Fox News on March 26, 2019
FILE PHOTO : Korean Air Lines Chairman Cho Yang-ho arrives at a court in Seoul, South Korea, July 5, 2018. REUTERS/Kim Hong-Ji/File Photo
March 27, 2019
SEOUL (Reuters) – Korean Air Lines Co Ltd shareholders voted on Wednesday against the airline’s proposal to extend CEO Cho Yang-ho’s term as director for three years, ending his 27-year tenure on the airline’s board.
South Korea’s National Pension Service, the airline’s second-biggest shareholder, decided on Tuesday to vote against the re-election of 70-year-old Cho, who is on trial on charges of breach of trust and embezzlement. Cho has denied the charges against him.
(Reporting by Heekyong Yang and Hyunjoo Jin; Editing by Muralikumar Anantharaman)
Source: OANN
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