Categories
· Business (Tobacco)
non-USA, by Country
· Korea - South
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Jump to full article: AP, 2008-03-14
Intro: Activist U.S. investor Warren Lichtenstein said Friday he is ending a two-year stint on the board of South Korea's dominant cigarette company satisfied he had brought improvements to its business.
Lichtenstein won a seat as an outside director on the board of KT&G Corp. in March 2006 after a high-profile battle in tandem with ally Carl Icahn to force changes at South Korea's one-time government tobacco monopoly.
"I appreciate the opportunity KT&G has given me to contribute as a board member to significantly improve shareholder value during my tenure," Lichtenstein, managing partner of investment fund Steel Partners II, said in a statement announcing his departure.
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