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March 29, 2024

Find someone younger, bolder: POSCO Kwon Oh-joon's letter

PUBLISHED : April 19, 2018 - 11:55

UPDATED : April 19, 2018 - 11:55

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[THE INVESTOR] POSCO Chairman Kwon Oh-joon offered to step down on April 18. It came as a surprise, despite the fact that there had been speculations of such a move since the head of the steelmaker has always changed with the government.

Kwon had been shunned by the Moon Jae-in government on several occasions, and there was some negative talk about his performance as chairman as well. He was an engineer, a techie at heart, and some say he never really switched over to the “other side.”

Whether the government pushed him out or whether it was his own choice, supporters are sending Kwon accolades for taking the initiative for building a new leadership. 

Below is a letter he sent today to POSCO employees about his recent decision.

 

POSCO Chairman Kwon Oh-joon




My esteemed colleagues,

On April 1, we celebrated the 50th anniversary of our foundation.

Looking back on our proud past of 50 years, we took the first step toward achieving the 100-year mission and vision of POSCO.

Now, to create a new future and take the next big leap, we are standing at critical crossroads.

Today, as I notified the board of my decision to step down as POSCO chairman, I stressed the necessity of a younger, bolder CEO who can lead the company for the next 50 years. The board will now begin the search for a new chairman, and I will do my best to fulfill my responsibilities before the appointment.

POSCO went through a long tunnel of restructuring over the past few years.

We have now recovered our core competitiveness, and the foundation has been laid to accomplish the tasks for leaping into the future. All this was made possible thanks to your zealous efforts and team spirit.

The POSCO spirit is that resources are limited, but creativity is limitless. That spirit has been with us for the past 50 years, and will continue to be over the next 50.

I ask for all of you to gather your creativity for the journey toward creating a Great POSCO. I know the public’s constant support will warm your heart along the way.

POSCO has been the reason of my life over the past 32 years.

It has been an enormous honor to have worked with you. Physically I may not be close, but my heart will always be with you, and I send you my most ardent support as I watch POSCO shape a shining new future.

I wish you all the luck and blessings on this 100-year journey.


Sincerely,
Kwon Oh-joon


By Kim Ji-hyun (jemmie@heraldcorp.com)

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