Committee to make final decision next month after reviewing his performance
KT chairman Lee Suk-chae is widely expected to extend his tenure as CEO at the nation’s largest fixed-line carrier, industry sources said Thursday.
KT decided to form a committee to name a new CEO during a board members’ meeting Tuesday as Lee’s official term of three years expires early next year.
Lee could serve a second term, sources said, considering the company’s strong performance under his leadership, especially as there is no strong contender to replace him.
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KT chairman Lee Suk-chae |
The committee will consist of seven outside board members, and Pyo Hyun-myung, president of the mobile business unit, will join as the only inside director.
After reviewing Lee’s achievements, the committee may ask him whether he wants a second term. The final decision is scheduled to be made in January.
The CEO, who took office in January 2009, led the merger of KT with KTF, the telecommunications arm and carried out a major overhaul in the following years.
KT was also the first local telecom operator to introduce Apple’s iPhone, which invigorated the nation’s smartphone market and related industries.
Lee, however, has recently faced criticism as the company’s failed frequency policy has dragged down its launch of the fourth-generation network service.
KT planned to ditch 2G services this year for the faster long-term evolution service. The company is awaiting a court ruling as some 900 2G users resist upgrading to 3G handsets.
By Lee Ji-yoon (
jylee@heraldcorp.com)
