The chairman of South Korean steelmaker POSCO has resigned.<br /> Speaking to reporters after a board meeting on Wednesday morning,... Kwon Oh-joon said a new CEO who is passionate, competent, and young... should lead the company into the next century.<br />His resignation was approved by the board of directors during the meeting,... and his successor is likely to be appointed within the next two to three months.<br />Kwon was appointed head of POSCO in March 2014,... and his term had been extended to March 2020.<br />After his appointment, Kwon helped the company recover from a management crisis in 2014,... and was not involved in any scandals during his term. <br />
