Pulmuone announced on the 18th that it is continuing its board-centered management with independence and effectiveness.
The current chairman of the board is Lee Hyo-yul, former CEO of Pulmuone. Lee Woo-bong, CEO of Pulmuone, serves as an internal director. Nam Seung-woo, the founder of Pulmuone and chairman of the Pulmuone Foundation, holds the position of other non-executive director within the Pulmuone board.
Pulmuone has voluntarily introduced a system for appointing outside directors in 2018 and is working to strengthen board functions by increasing the proportion of outside directors and operating independent committees.
Currently, the proportion of outside directors is over 70%, including three female outside directors. Among KOSPI-listed corporations with assets of more than 500 billion won, only 8% have implemented a system for appointing outside directors, and only 18% operate regular meetings for outside directors.
In 2024, a secretariat for the board will be newly established to support the management of the board, including eight outside directors. The board is involved in substantial decision-making related to major management strategies and the appointment of the CEO.
Beginning with governance restructuring in 2019, it has also played a role in establishing the 'Pulmuone Earth Food' brand strategy. Last year, a new CEO was appointed through a candidate recommendation committee within the board.
Kim Young-hwan, the lead outside director, said, 'Pulmuone does not confine outside directors to being external monitors but positions them as a critical part of strategic decision-making.'