Kia appoints Executive Vice President Song Min-su as an inside director and switches to a co-CEO structure with Song Ho-sung

Kia announced that it held an extraordinary general meeting of shareholders and a board meeting on 7 month 8 day and appointed Song Min-su, executive vice president in charge of domestic production, as an inside director. Investors need to examine this as a change in the management accountability structure.

At the extraordinary general meeting of shareholders that day, Kia voted on the agenda item to appoint Executive Vice President Song as an inside director. The resolution was decided by a vote at the general meeting of shareholders.

The agenda item passed with an approval rate of 97.0% based on the number of shares exercising voting rights. At the board meeting held immediately after the general meeting, Executive Vice President Song was newly appointed as representative director.

The new leadership structure is a co-CEO system with the existing President Song Ho-sung. The co-CEO arrangement took effect immediately.

Representative Song’s term as an inside director runs until 2027the regular shareholders’ meeting for the year. The company specified the term in its disclosure.

According to the company’s disclosure, Representative Song Min-su had been responsible for work related to Kia Autoland Hwaseong Plant as executive vice president in charge of domestic production before his appointment.

Kia(000270) disclosed that it had handled the appointment through resolutions by an extraordinary shareholders’ meeting and the board of directors that day. The disclosure was posted on the company’s electronic disclosure system for investors’ reference.