CEOs serve at telecom giant since 2008 with average term of 2.1 years
KT Corp., South Korea's No. 2 mobile carrier, has recorded the shortest CEO tenure among units of the nation's top 30 conglomerates over the past decade due to political influence, a corporate tracker said on Nov. 14, 2018.
A total of 39 professional CEOs have served at the telecom giant since 2008 with their average term reaching 2.1 years, according to CEO Score, which tracks corporate management.
Leading steelmaker POSCO and CJ Corp, the holding company of food and entertainment giant CJ Group, came next with the average CEO tenure of 2.2 years.
The findings are based on a survey on the terms of 743 professional CEOs, excluding those related to conglomerate owners, who have retired from 265 subsidiaries of the 30 biggest conglomerates over the cited period.
CEO Score said CEOs at KT and POSCO have had short tenures because of pressure from the political circle, though the two companies were privatized more than 10 years ago.
The average tenure of the 743 CEOs came to 3.3 years, while 106, or 14.3 percent of the total, were forced to leave after less than one year of service.
Eighty-one CEOs of subsidiaries of Samsung Group, South Korea's top family-controlled conglomerate, retired over the cited period with their average term coming to 3.9 years. (Yonhap)