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Shinhan Financial starts selecting CEOs for 12 units, expands bank nomination panel role

Shinhan Financial Group has begun selecting next chief executives for 12 subsidiaries whose CEOs’ terms expire at the end of this year. It plans to improve management succession procedures by expanding the authority of the bank’s executive candidate nomination committee to recommend candidates and by detailing CEO evaluation criteria for each unit. The group’s subsidiary CEO nomination committee also recommended Shinhan REITs Management CEO Lim Hyun-woo as head of a merged entity.