Korea Zinc Boss Looks to Regain Trust After ‘Tactical Error’
- Two largest shareholder groups have been vying for control
- Choi agreed to step down as board chairman last week
Korea Zinc Co.’s chairman is working to regain shareholders’ trust after being forced to scrap a $1.8 billion share sale last week, a setback in the bitter battle for control with the company’s top shareholder that he described as his “one real mistake.”
Yun B. Choi, who will also stand down as chairman of the board as a result, said steps include meetings with investors, reinforcing the board with the addition of a foreign director and independent chairman, strengthening the voices of minority shareholders and introducing a quarterly dividend.