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South Korean steelmaker POSCO names head of Posco Chemtech as candidate for next leader

Reuters
FILE PHOTO: The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. REUTERS/Kim Hong-Ji/File Photo (Reuters)

SEOUL (Reuters) - South Korean steelmaker POSCO on Saturday selected Choi Jeong-woo, the head of affiliate Posco ChemTech, as its final candidate to lead the company. Choi still needed to win approval at an extraordinary shareholders' meeting on July 27, the company said. In April, the company said Kwon Oh-jun was stepping down from the chief executive position. POSCO was privatised in 2000, but chief executives have previously been replaced when a new administration takes office, local media reported. (Reporting by Cynthia Kim; Editing by Stephen Coates)