POSCO CEO Jeong-Woo Choi has been appointed as the new executive committee member of the World Steel Association (worldsteel) during its annual meeting held in Madrid, Spain.
The Executive Committee is worldsteel’s top decision-making body setting the path for the organization’s core activities regarding steel promotion, product development, and environmental sustainability. Altogether 13 members serve under the committee.
The appointment process of a new Executive Committee member follows: the five-membered Nominating Committee first makes recommendations. The nominated candidates then undergo the voting processes by the Executive Committee and the Board of Directors. Once appointed, the members serve a three-year term.
Members of the Executive Committee have the mandate to appoint the chairman and are themselves eligible to serve as the worldsteel’s head after serving one year as the vice chair.
POSCO’s latest CEO Oh-Joon Kwon held the Vice Chairmanship in 2017. The Board also addressed the issues worldsteel is currently undertaking such as reduction of carbon dioxide, steel sustainability and the short-term outlook for global steel demand.
