Holds the 16th annual general meeting of shareholders
SK Innovation held its 16th Annual General Meeting of Shareholders on the March 30 at SUPEX Hall in SK Building, Jongno-gu, Seoul. At the meeting, attended by SK Innovation Vice Chairman & CEO Kim Jun and CEOs of major subsidiaries, SK Innovation held its first “Dialogue with Shareholders” and expressed a strong commitment to enhancing corporate value. The company actively engaged in communication, including a Q&A session, with shareholders on current issues.
In the meeting, shareholders approved the nominations of Kim Jun as Inside Director, Kim Joo-youn and Lee Bok-hee as Outside Directors, and Park Jin-hei as the Member of the Audit Committee by approval of shareholders. After serving as the CEO of SK Innovation, Vice Chairman & CEO Kim Jun was reappointed as the Inside Director for his successful leadership in the company’s Carbon to Green strategy and his contribution to the company’s transition to a green portfolio within the SK Innovation group and its subsidiaries.
To strengthen board-centered management, SK Innovation decided to appoint one more Outside Director this year. Accordingly, two new Outside Directors, Kim Joo-youn and Lee Bok-hee, were appointed. In addition, Park Jin-hei, a Member of the Audit Committee, is expected to provide management-level advice on the company’s performance audit, compliance, and risk management from the perspective of an ex-CEO of a financial company. Approvals of the financial statement and ceiling for total director’s compensation were also passed as in their original bills.
After the conclusion of the Annual General Meeting of Shareholders, SK Innovation Vice Chairman & CEO Kim Jun, SK On CEO Jee Dong-seob, SK Geo Centric CEO Na Kyung-soo, and Head of Finance Division Group of SK Innovation Kim Yang-seob participated in the “Dialogue with Shareholders” session. This was the first time that SK Innovation set aside a separate time on the day of the meeting to explain the company’s major management issues to shareholders.
During the session, SK Innovation Vice Chairman & CEO Kim Jun explained the key strategies for enhancing SK Innovation’s corporate value. The strategies include improving the profitability of SK On, achieving visible results in the Green Transformation (transforming existing carbon-emitting industries into green businesses), and implementing shareholder return policies to protect shareholders’ rights.
Regarding the improvement of SK On’s profitability, Vice Chairman & CEO Kim Jun said, “We are focusing on leveraging the capabilities of not only SK On but all of SK Innovation’s subsidiaries to improve yield, operation rates, price, and competitiveness in procurement.”
SK On CEO Jee Dong-seob added, “This year, SK On management is focusing on three areas: improving profitability, enhancing capital efficiency, and establishing a foundation for future growth. In particular, we plan to focus on visualizing profitability turnaround by actively pursuing our key tasks.”