OREANDA-NEWS. April 10, 2013. POSCO held the 45th Ordinary General Meeting of Shareholders on March 22nd at the Seoul POSCO Center, newly electing former CEO of IBM Korea Shin Jaecheol and Professor Lee Myeongwu of Hanyang University as external directors, as well as Vice President Jang Inhwan and Managing Director Kim Eungkyu as internal directors.

External director Lee Yeongseon was elected Chairman of the Board of Directors at this meeting, while Vice President Park Gihong and Kim Junshik were promoted to CEO President, Vice President Jang Inhwan to CEO Vice President, and Managing Director Kim Eungkyu to Vice President.

Newly elected Chairman Lee Yeongseon of the Board of Directors was first elected as a POSCO External Director in 2009, and has served as the chairperson of the Director Candidate Recommendation Committee.

External Director Shin Jaecheol served as CEO President of LG CNS and IBM Korea, External Director Lee Myeongwu as Vice Chairman of iRiver, Chairman of Sony Korea, and is currently a professor at Hanyang University.

CEO President Park Gihong served as CEO of POSRI, head of the Management Strategy Division and Growth Investment Business Division, and CEO President Kim Junshik also served as head of Gwangyang Steelworks and the Stainless Business Division.

CEO Vice President Jang Inhwan served as head of the Hot-rolled Marketing division, CEO President of POSCO P&S, and head of the Growth Investment Business Division, while Vice President Kim Eungkyu served as head of the POSCO Energy Management Support Division, Talent Innovation Division, and CR Division.

CEO Chung Joonyang in his greetings said that by securing exclusive technology competitiveness and through innovative management, he will simultaneously strive for the success of both the company and customer, realizing `value management.`

Investment will especially be based on financial soundness placing weight on stability, and steel businesses in strategic regions overseas will also move forth.

He also added that increased productivity and heightened operation efficiency will be added to existing hardware improvements, carrying out activities such as continuous management innovation, change in the way of working, and improving individual capabilities to strengthen the essential constitution of the company and proactively overcome the current crisis.

At the shareholders meeting with 200 shareholders including overseas shareholder representatives and institutional investors attending, a total dividend of 8,000KRW per share including an interim dividend of 2,000KRW was decided.