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Games

Nexon founder resigns in top management reshuffle

Kim will remain as NCX board member with a focus on future growth and nurturing new talent

By Jul 30, 2021 (Gmt+09:00)

Nexon founder Kim Jung-ju 
Nexon founder Kim Jung-ju 

South Korean game company Nexon’s founder Kim Jung-ju has resigned from the chief executive position at NXC Corp., the holding company of Nexon. He will be replaced by Lee Jae-kyo who was serving as NXC’s managing director of the brand and communications department.

“I’ve held the CEO position of NXC for 16 years since the creation of Nexon’s holding company. Now is the time to assign a capable successor,” said Kim.

Kim added that the new CEO is the best person to lead NXC in making top-level strategic decisions as she understands the history and the culture of Nexon better than anyone else.

NXC’s new CEO Lee Jae-kyo has 23 years of experience at NXC and Nexon. 
NXC’s new CEO Lee Jae-kyo has 23 years of experience at NXC and Nexon. 

The new NXC CEO joined Nexon in 1998 after about four years of career in public relations at Hyundai Motor Co. She led NXC’s external communication and social contribution since 2012, and also spearheaded the creation of Nexon Foundation in 2018.  

“Some 23 years ago, I joined Nexon with an immediate connection to the group of eccentric geniuses here. I promise to sustain NXC’s deep-rooted culture of entrepreneurship,” said Lee.

NXC also announced the appointment of a former investment banker Alex Iosilevich as its chief investment officer. NXC in a statement said that Iosilevich was the Head of Media Investment Banking at UBS Investment Bank in the Americas, and previously held similar leadership roles at Deutsche Bank, Barclays Capital, and Lehman Brothers.

NXC’s new CIO Alex Iosilevich
NXC’s new CIO Alex Iosilevich

“I am truly excited to be joining NXC’s team and looking forward to working closely with Kim and Lee to help shape the next chapter of the company’s growth and diversify our portfolio,” said Iosilevich.

NXC added that Kim Jung-ju will remain as a board member with a focus on investing in future-growth areas and growing new talents. Earlier this year, NXC invested 94.2 billion won ($82.2 million) in FGX Mobility, a global mobility company. NXC’s previous investments led by Kim include the acquisitions of Norway’s premium stroller company Stokke in 2013 and Europe’s largest cryptocurrency exchange Bitstamp in 2018.

Write to Joo-wan Kim at kjwan@hankyung.com

Daniel Cho edited this article.

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