South Korea’s Kakao Corp has picked a new chief executive, the company said on Wednesday, as part of its management reform efforts amid an ongoing crisis at the tech giant.
The transition comes at a time the company is facing a wide range of regulatory risks ranging from a probe into suspected stock market manipulation to complaints about monopolistic practices in its ride-hailing service.
Shina Chung, 48, currently head of Kakao Ventures, Kakao’s venture capital arm, will be formally confirmed as Kakao’s new CEO after a board meeting and a general shareholders’ meeting in March, Kakao said in a statement.
Reuters