South Korean messaging service provider Kakao reportedly settled on a new CEO after a previous nominee withdrew from the running.
Yonhap News Agency reported Nam Koong-whon was named after Kakao’s board accepted the resignation of co-chief Yeo Min-soo.
Nam is head of Kakao’s Future Initiative Centre and scheduled to take the helm after the next board meeting, which the news agency reported is scheduled for March.
He was previously CEO of Kakao Games.
Former Kakao Pay head Ryu Young-joon was in the frame to replace Joh Su-yong as co-CEO alongside Yeo, but resigned following a major stock scandal over the sale of shares in the unit.
Nam told Yonhap News Agency he would focus on restoring public trust in Kakao, restructuring the business around future technologies and expanding globally.