According to the financial sector on Monday, four of the nine subsidiaries of Nonghyup Finance will expire at the end of the year, including NH Nonghyup Bank, Nonghyup Life Insurance, Nonghyup Insurance, and Nonghyup Capital.
Among them, Lee Dae-hoon, president of Nonghyup Bank, is most likely to serve a second term. Although Oh Byeong-gwan, president of Nonghyup Sonbo, is likely to serve a second term after just one year, some say that he may move to another affiliate depending on the사다리사이트 intention of Nonghyup Financial Group Chairman Kim Kwang-soo.
Nonghyup Capital President Ko Tae-soon has mixed views. Nonghyup Capital posted 41.6 billion won in net profit in the third quarter, up 45 percent from last year, but some are saying that it did not improve its constitution once again.
The Achilles' heel is that the performance of Nonghyup Life Insurance Co., Ltd. has deteriorated since then. The net profit of Nonghyup Life Insurance Co. fell to 85.4 billion won last year and stayed at 26.8 billion won until the third quarter.
The committee consists of five outside directors, including Lee Joon-haeng, a professor at Seoul Women's University, Lee Ki-yeon, a professor at Sungkyunkwan University, and Jeong Byeong-wook, a vice president of Nonghyup Financial Group Lee Gang-shin, and Yoo Nam-young, a member of the National Agricultural Cooperative Federation.
Lee`s term ends at the end of the year, with Nonghyup Financial Holding holding a meeting with its board of directors and shareholders on the 10th and appointing Choi Chang-soo, the senior vice president of Nonghyup Bank, as Lee`s successor. That is why Lee's move is also a matter of concern.
"Although this year's performance of Nonghyup will not be achieved through a large-scale replacement of CEOs, it is highly likely that some CEOs who are deemed to lack expertise will be replaced as Chairman Kim Kwang-soo has repeatedly announced that he will emphasize their expertise in personnel management at the end of this year."
Katadata.co.id - PT Matahari Department Store Tbk (LPPF) posted a net profit in the period January-September 2019 amounted to Rp 1.18 trillion.
This figure plummeted to 20.8% compared to the same period in the previous year (year on year/ yoy), Rp of 1.49 trillion.
Citing financial statements of the company, during January-December 2019, the Sun recorded gross sales of Rp 13.8 trillion, up 1.5% compared to the same period last year to Rp 13.6 trillion.
The lack of growth in sales of the company in line with the average level of growth of sales per outlets (same store sales growth/ SSSG) of the Sun which fell drastically to 0.5% from 4.4%.
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The lack of sales of the company also caused the company's gross profit depressed by 2.5% to Rp 4.7 billion and EBITDA down 15.6% to Rp 1.8 trillion from Rp 2.1 trillion.
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