Hope Bancorp names Kevin S. Kim chairman of the board
Hope Bancorp, Inc. announced that its board of directors appointed President and Chief Executive Officer Kevin S. Kim as chairman of the board of directors of the company and bank, effective immediately. Kim succeeds Scott Yoon-Suk Whang, who was appointed Lead Independent Director of the company and Bank, effective immediately. "Our Board of Directors has absolute confidence in Mr. Kim's ability to lead the Company's strategic vision," said Scott Yoon-Suk Whang, Lead Independent Director. "We believe that unifying the role of the Chairman and CEO is the most effective leadership structure at this time. And in accordance with our governance philosophy, I will continue my active participation as the Lead Independent Director on behalf of the Board and provide appropriate independent oversight. We also believe this structure will further promote our Board's effectiveness and more appropriately allocate authority and responsibility between the Board and management."