Brian Kim, the founder, and chairman of Kakao Crop has decided to take a big decision which has left the news channels and the viewers so desperate to know about the decision and the reason behind taking it. The news headlines are full of Kim’s name. He announced in a statement that he has decided to resign from the tech giants board of directors because of some of the scandals in the company the last year.
The resignation has not been finalized yet and on 29th March there will be a meeting to finalize the resignation and then the media will be confirmed it. The decision Kim has taken has even shocked the employees of the company.
Following the last year’s stock scandal, the employees and the shareholders said they were self-made and even said that the self-made billionaire shall be made accountable for the unethical and unsatisfactory management of the business.
A day prior to the scandal, Kim wrote a message, " NK will lead the group's efforts in going ‘Beyond Mobile’ and I will work on the ' Beyond Korea' global expansion plan after stepping from the chairman post.” NK, the new CEO is Kim’s, right-hand man.
Kim even explained that “Beyond Korea initiative is not just a corporate mission but also a response to calls from the South Korean public.” Shares of the group’s units thrust in January and after the reports, police were investigating the matter and there were allegations that Kim evaded nearly $740 million taxes in 2014, to which the
company denied.
They were then criticized that the Kakao group was making a monopoly as well as public outrage over the sale of stock after a unit’s public offering. Since then, the shares have been rising and surged more than 150% in training debut by November to become one of the hottest IPOs of 2021.
This rapid increase and growth have put the company under regular scrutiny. The company’s reputation has been at stake and is also affected a lot by such prevailing news.
Kim even said that after resigning as chairman, he will work on the expansion plans of Beyond Korea. He even mentioned that he will continue leading the Mirar Initiative Center and the firm which is destined to design the future blueprint for the Kakao Group.
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