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KT&G Corporation (KRX:033780), known for its tobacco, ginseng, and herbal products, has recently faced an ISS recommendation to vote against its Board of Directors' proposals. KT&G expressed concerns about ISS' reliance on data provided by dissident shareholder Flashlight Capital Partners, impacting overseas business performance analysis. Additionally, ISS' recommendations against CEO nominee Kyung-man Bang and other candidates raise questions on CEO selection impartiality and Board-endorsed Outside Candidate director candidacy. KT&G emphasizes rigorous CEO selection processes and inconsistencies between ISS' recommendations and its proxy voting guidelines. Furthermore, discussions between ISS, FCP, and KT&G raised concerns over export business profitability data discrepancies, misinformation, and interactions. KT&G seeks to engage constructively with stakeholders, address concerns, and ensure shareholder value.
FAQ
What recent recommendation did ISS make about KT&G Corporation's Board of Directors' proposals?
Why did KT&G Corporation express concerns about ISS' recommendation?
What were the concerns raised regarding ISS' recommendations against CEO nominee Kyung-man Bang and other candidates?
What issues were identified in the discussions between ISS, FCP, and KT&G Corporation?
How does KT&G Corporation plan to address the concerns and engage with stakeholders?
