POSCO announced that, on April 18, Mr. Ohjoon Kwon, current CEO, expressed his will to resign, and the Board of Directors, on the same day, resolved to activate CEO Succession Council to search for CEO candidates. On June 22, the BOD confirmed that the 5 candidates recommended by the CEO Succession Council will go through evaluation process for CEO candidates. The CEO Candidate Recommendation Committee seated by 7 Outside Directors evaluated on each candidate’s capabilities and skill sets, and recommended Mr. Jeong-Woo Choi, present CEO of POSCO Chemtech and former CFO of POSCO, to the Board on June 23 as the final candidate to be appointed as Inside Director in the upcoming shareholders’ meeting and as CEO in the following BOD meeting. Mr. Choi has spent his entire career with POSCO since 1983 and served in subsidiaries as well thereby building abundant management experience and extensive knowledge in steel and non-steel alike. He held various posts such as Head of Audit Department in POSCO, Head of Corporate Strategy Department in POSCO E&C, Head of Finance and Planning Department of POSCO Daewoo, and CEO of POSCO Chemtech.