Proxy adviser endorses five director nominees while rejecting MBK–Young Poong stock split proposal ahead of March 24 shareholder meeting
Global proxy adviser Institutional Shareholder Services threw its support behind the proposal by Korea Zinc's incumbent board to nominate five directors ahead of a general shareholders' meeting, as the company's standoff with major shareholder Young Poong and MBK Partners continues to escalate.
The ISS recommendation arrives roughly two weeks ahead of the March 24 annual shareholders' meeting, at which investors in the world's largest zinc smelter will vote on competing board nominations put forward by Chair Choi Yun-beom and a coalition of major shareholder Young Poong and private equity firm MBK Partners.
In a report titl
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