Woori Bank, South Korea's No. 3 retail lender, said Friday it will announce candidates for the bank's new chief executive job next week, without publicly taking applications for the post.
The decision to skip receiving applications, which was made at the bank's chief executive nomination committee earlier in the day, is aimed at swiftly appointing a new chief executive, sources said.
Next week, the bank will unveil a list of candidates, who have been recommended by headhunters, for the job and guidelines to pick a new chief executive, it said.
Woori Bank's chief executive, Lee Kwang-goo offered to step down earlier this month over alleged irregularities in hiring college graduates last year.
It remains unclear whether Woori Bank could appoint a new chief executive by the end of this year, but the leadership vacuum could affect the bank's stake sale, analysts said. The government still owns an about 18-percent stake in Woori Bank.
As part of a plan to privatize Woori Bank, the government sold a 28-percent stake to seven institutional investors last year. IMM Private Equity, Mirae Asset Global Investments Co. and other institutional investors were among the buyers.
The government poured 12.8 trillion won (US$11.5 billion) into Woori Bank to keep it afloat in the wake of the 1997 Asian financial crisis.
Kim Sua firstname.lastname@example.org
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