SEOUL, March 27 (Yonhap) -- Shareholders of Korean Air Lines Co. on Wednesday voted against the reappointment of the airline chief Cho Yang-ho as director of the board.
Seventy-four percent of shareholders attended an annual shareholders' meeting held at the airline's headquarters in western Seoul. Sixty-four percent of participants voted for Cho's reappointment, a number that fell short of the two-thirds support required to pass the motion.
It is the first time that shareholders have voted to remove the head of the company from his post of representative director at the national flag carrier.
The National Pension Service (NPS), the second-biggest shareholder of Korean Air, played a key role on Tuesday by standing against Cho's reappointment as executive director for another three years.