Coinone Founder Myunghun Cha Steps Down as CEO...Transition to Sole Representation by Seonghyun Lee

Son Min

Summary

Coinone announced that founder and CEO Myunghun Cha has stepped back from management, and that it has transitioned to a sole leadership system under Seonghyun Lee.
Mr. Cha will continue to serve as the chairman of the board and remain the largest shareholder (holding 53.46% of the shares).
Mr. Lee stated that after joining as COO earlier this year and being appointed co-CEO, he will now take sole responsibility for management.

Myunghun Cha, the founder of the cryptocurrency exchange Coinone, will be stepping back from front-line management. Co-CEO Seonghyun Lee (pictured) will take full charge of the company's operations.

Coinone announced on the 19th that Mr. Cha has resigned from the co-CEO position. Moving forward, Mr. Cha will focus on serving as the chairman of the board, leading discussions on key management issues and formulating mid- to long-term strategies, such as discovering new business opportunities. Mr. Cha, who founded Coinone in February 2014, has served as CEO for over 11 years and remains the largest shareholder (holding 53.46% of the shares).

Coinone has transitioned to a sole CEO system under Mr. Lee. He joined Coinone as the Chief Operating Officer (COO) this January and was appointed co-CEO in February.

Reported by Jinseong Kim jskim1028@hankyung.com