Hanjin Shipping CEO Resigns on Losses, Debt Repayments
This article is for subscribers only.
Hanjin Shipping Co.’s Chief Executive Officer Kim Young Min resigned, taking responsibility for two successive years of losses at South Korea’s largest shipper and a delay in getting financial support from creditors.
Kim, 58, will stay until a replacement is found, the Seoul-based company said in an e-mailed statement today. Kim was appointed as CEO in January 2009 after 20 years with Citigroup Inc., and his term was to end in March 2015.