Naver CEO Choi Soo-young and 5 executives purchase company shares worth 700 million won
Naver CEO Choi Soo-young and other executives collectively purchased company shares valued at 700 million won in a recent market transaction.
On November 11, Naver announced that CEO Choi Soo-young, along with five other C-level executives, purchased a total of 700 million won ($532,000) worth of company shares on November 9. Choi personally acquired 786 shares valued at 200 million won. In addition to Choi, the Chief Data Officer, Chief Operating Officer, Chief Financial Officer, Chief Risk Officer, and Chief Human Resources Officer all made significant investments of their own, each acquiring shares worth approximately 100 million won.
Since her appointment in March 2022, CEO Choi has invested around 700 million won in company shares to demonstrate responsible management. Currently, she owns a total of 11,874 shares, including stock options. This strategic move may be interpreted as a strong signal of confidence in the company's future prospects and an attempt to align the interests of management with shareholders.
On November 6, prior to this purchase, Naver had announced its new three-year shareholder return policy, which includes share buybacks and cancellations as well as cash dividends. Furthermore, on November 1, the company reorganized its executive leadership structure and announced plans to enhance its social responsibility while adapting to rapidly changing global trends such as artificial intelligence and Web3.