Nexon founder Kim Jung-joo will step down from CEO of NXC, Nexon's holding company.
NXC announced on July 29 that it has appointed Lee Jae-kyo, head of the brand promotion headquarters, as its new CEO and recruited Alex Iosilevich, a former executive of a multinational investment bank, as CIO of global investment.
Instead of resigning from the CEO position, founder Kim decided to maintain his position as an in-house director and registered director of NXC, participate in major company decisions, and focus on finding future businesses and fostering talent.
"I've been the CEO of NXC for 16 years, and now it's time to leave it to a competent next runner," Kim said. "The newly appointed Lee is the best person to carry out NXC's various decision-making and management activities."
He also said, "Alex Iosilevich has contributed greatly to the successful growth of the world's leading global media entertainment companies. I am confident that by diversifying their business portfolios and growing their companies, they can create sustainable corporate value and help society."