Deals
Woori Chairman to Quit Amid South Korea’s Fourth Sale Effort
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Woori Finance Holdings Co. Chairman Lee Pal Seung plans to step down ahead of the South Korean government’s fourth attempt to find a buyer for its stake in the country’s biggest financial services group.
Lee, who has been chairman and chief executive officer since June 2008, announced his resignation yesterday without giving a reason for the decision, according to an e-mailed statement from the Seoul-based company. The 69-year-old will continue with his duties until a successor is found, according to a spokesman who asked not to named due to company policy.