Kakao to Move to Joint CA Council Chairmanship Ahead of Spin-Off, Adding Kim Do-young
IT DAILY ·
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Kakao has shifted the CA Council to a joint chairmanship led by Chung Shin-a and Kim Do-young ahead of its spin-off. The purpose of the joint chairmanship is to secure continuity in decision-making before the spin-off. After the split, Chung Shin-a will oversee Kakao AI and Kim Do-young will oversee Kakao X.
Kakao has shifted the CA Council, the group's top consultative body, to a joint chairmanship led by Chung Shin-a and Kim Do-young ahead of its spin-off. The purpose of introducing the joint chairmanship is to secure continuity in decision-making before the spin-off. After the split, Chung Shin-a and Kim Do-young will respectively oversee Kakao AI and Kakao X.
The Kakao Group held a group council meeting on the 28th, and the CEOs of affiliated companies agreed to it. At the same time, Kim Do-young, the nominee to head Kakao X, was appointed co-chair of the CA Council.
Kim Do-young, co-chair of Kakao's CA Council and nominee to head Kakao X, will jointly carry out major decision-making with current chair Chung Shin-a. Until the split, the two will share responsibility for major group-level decisions, and Kim will also handle coordination at the group level.
Kakao plans for Kakao AI and Kakao X to each establish independent management systems after the split. It also plans not to set up a joint body between the two companies like the existing CA Council after the split.
In January, Kakao reorganized the CA Council, the top consultative body that coordinates major management matters for the Kakao Group. At the time, the CA Council was changed from the existing structure of 4 committees, 2 divisions, and 1 unit to one of 3 offices and 4 divisions. In the process, the Group Investment Strategy Office was newly established, and Kim, who was also serving as CEO of Kakao Investment, was appointed head of the Group Investment Strategy Office.
Kim had been responsible for the group's mid- to long-term investment strategy and capital allocation. With his appointment as co-chair of the CA Council, his scope of responsibilities has expanded beyond investment strategy to include major group-level decision-making. This scope of major decision-making also includes matters ahead of the spin-off.
After the spin-off, CEO Chung Shin-a will oversee Kakao AI, centered on KakaoTalk, and be in charge of the AI, advertising, and commerce businesses. The nominee Kim will take charge of Kakao X and oversee the techfin, content, and mobility business groups, as well as future investments. Kakao plans for the two companies to each establish strategy and capital allocation systems suited to their business characteristics.
Ahead of the spin-off, Kakao is operating a TF involving major departments such as technology, finance, and HR, and the TF is tasked with reviewing the practical issues needed for the split.
Kakao is holding offline briefing sessions for employees and operating a separate inquiry channel. A Kakao official said the purpose of the joint chairmanship is to secure continuity at the group level during the transition to the spin-off and ensure systematic execution, and explained that the company plans to closely manage the spin-off preparation process through field-specific TFs and do its best for a stable transition.
Source: IT DAILY · Kim Byung-joo
Original: https://www.itdaily.kr/news/articleView.html?idxno=241856
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Source: IT DAILY
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