“KT&G Appoints Bang Kyung-man, a Seasoned Leader, as New CEO”
In a strategic move to further fortify its leadership, KT&G, South Korea’s foremost tobacco company, has made a pivotal decision to appoint Senior Executive Vice President Bang Kyung-man as its new CEO. The announcement, heralded by the company’s CEO Candidate Recommendation Committee on Thursday, marks a significant transition in KT&G’s executive landscape.
Bang’s ascent to the CEO position awaits final endorsement at the upcoming general shareholders’ meeting scheduled for March. With this transition, the company bids farewell to Baek Bok-in, whose distinguished nine-year tenure as the incumbent head has left an indelible mark on KT&G’s trajectory.
Bang’s professional journey is characterized by a rich tapestry of experience and expertise. Armed with a bachelor’s degree in economics from Hankuk University of Foreign Studies and an MBA from the University of New Hampshire, Bang embarked on his career journey with KT&G in 1998. Over the years, he has navigated through various echelons of leadership within the organization, carving a niche for himself in branding, marketing, and global strategy.
Bang’s leadership tenure has been hallmarked by visionary initiatives aimed at charting KT&G’s course for sustained growth in the mid-to-long term. Particularly noteworthy is his instrumental role in shaping the company’s strategies across its three core business domains: next-generation products, health functional food, and overseas combustibles.
Among his illustrious achievements, Bang spearheaded the expansion of export channels for KT&G’s ESSE tobacco brand during his tenure as the managing director of brand management. His astute leadership and strategic acumen have been instrumental in positioning KT&G as a formidable player in the global market landscape.
As Bang assumes the mantle of CEO, his appointment underscores KT&G’s unwavering commitment to driving innovation, fostering growth, and delivering value to stakeholders. With his proven track record and forward-looking vision, Bang Kyung-man is poised to steer KT&G towards new horizons of success and prosperity in the dynamic and competitive tobacco industry landscape.