March 27, 2019 / 1:03 AM / 4 months ago

Korean Air shareholders vote against re-election of CEO Cho as director

SEOUL, March 27 (Reuters) - Korean Air Lines Co Ltd shareholders voted on Wednesday against the airline’s proposal to extend CEO Cho Yang-ho’s term as director for three years, ending his 27-year tenure on the airline’s board.

South Korea’s National Pension Service, the airline’s second-biggest shareholder, decided on Tuesday to vote against the re-election of 70-year-old Cho, who is on trial on charges of breach of trust and embezzlement. Cho has denied the charges against him. (Reporting by Heekyong Yang and Hyunjoo Jin; Editing by Muralikumar Anantharaman)

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