• Total Shareholder Return Rate* Increase: Doubling from 20% to 40% through 2027 to enhance shareholder value.
• Dividend Increase and Share Cancellation: For FY2024, cash dividends will more than double compared to the previous year, and 2.56% of all treasury shares will be canceled.
• Corporate Value-Up Program Participation: Scheduled participation in South Korea’s Corporate Value-Up Program in 2025.

SEOUL, South Korea, Jan. 7, 2025 /PRNewswire/ — Coway Co., Ltd., the “Best Life Solution Company,” has announced the expansion of its shareholder return policy, reinforcing its commitment to enhancing shareholder value and long-term, sustainable financial growth.

Key Highlights of the Expanded Policy

Starting FY2024, Coway will increase its total shareholder return rate from 20% to 40%, a commitment that will extend through FY2027. Of this increased total shareholder return rate, 34% will be allocated for cash dividends, while 6% will be dedicated to treasury share cancellation.

As part of this latest commitment, Coway plans to cancel a total of 1,890,486 shares, representing 2.56% of its treasury shares, by the end of 2025. The enhanced total shareholder return rate is set to remain in place through FY2027.

Furthermore, Coway will participate in South Korea’s Corporate Value-Up Program in 2025 in order to increase corporate value, with more detailed information to be provided through public disclosure set for release within the first quarter of 2025.

Strengthened Financial Foundations

The decision to expand shareholder returns reflects Coway’s strengthened financial stability and business competitiveness, which the company has attained since its acquisition by the Netmarble Group in 2020.

Prior to the acquisition, Coway faced challenges stemming from a shareholder return policy that exceeded its free cash flow. This situation constrained the company’s financial flexibility and limited investment in core operations and growth initiatives, thus weakening the competitiveness of its core businesses.

Since the acquisition, Coway has been implementing a capital allocation strategy aimed at restoring financial stability while fostering growth. In reducing its total shareholder return rate to approximately 20%, the company was able to reinvest in key business areas including research and development, marketing, and customer satisfaction as well as enhancing global market competitiveness and increasing brand awareness for BEREX, all in pursuit of sustainable growth.

These efforts have been successful in driving growth for Coway, resulting in the impressive performance of six consecutive quarters surpassing KRW 1 trillion in revenue, despite the challenges posed by the COVID-19 pandemic and ongoing global economic uncertainties.

Coway’s Commitment to Sustainable Growth

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Starting in FY2024, as the company’s growth foundation stabilizes, Coway has decided to increase its total shareholder return resources from the current 20% of consolidated net income to 40% by FY2027.

“Coway plans to allocate resources toward shareholder returns, strategic investments for sustainable growth, and maintaining financial stability within the range of distributable profits, taking into account internal and external business conditions,” said Jangwon Seo, CEO of Coway. “We will continue to implement shareholder-friendly policies in various ways going forward.”

About Coway Co., Ltd.  

Established in Korea in 1989, Coway, the “Best Life Solution Company,” is a leading environmental home appliances company making people’s lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company’s most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, the USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.  

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The promotions span across six practice areas and three regions to drive growth in 2025 and beyond

CHICAGO, Jan. 6, 2025 /PRNewswire/ — Heidrick & Struggles (Nasdaq: HSII), a premier provider of global leadership advisory and on-demand talent solutions, today announced key global and regional leader appointments, effective January 1, 2025. The appointed leaders will continue advancing the firm’s objective of delivering exceptional value to clients by fostering differentiated, deep, and durable relationships.

“Having the right leadership in place is increasingly crucial to business performance, growth, and prosperity, making our work more important than ever,” said Tom Monahan, CEO, Heidrick & Struggles. “This dynamic group embodies our values as a firm as well as our unwavering commitment to delivering superior client service. We’re excited to promote these outstanding leaders as they continue to shepherd our clients through their most pressing business and talent challenges.”

These leaders span Heidrick & Struggles’ priority practice and solution areas, as well as multiple regions globally.

Individuals appointed to Regional Leader:

• Anne Rockey, North America
• Richard Guest, Asia Pacific & Middle East

Individual appointed to Global Managing Partner:

• Todd Taylor, Client Driven Growth, a newly created role

Individuals appointed to Executive Search Global Practice Managing Partner:

• Jaimee Eddington, Corporate Officers Practice
• Dominique Fortier, Financial Services Practice
• Chris Bray, Global Technology & Services Practice
• Gustavo Alba, Co-Lead, Private Equity Practice

Individuals appointed to Executive Search Regional Practice Managing Partner:

• Liz Langel, Americas, Financial Services Practice
• Ina Sood, Americas, Healthcare & Life Sciences Practice
• David Burd, Americas, Corporate Officers Practice
• David Crawford, Asia Pacific & Middle East, Global Technology & Services Practice
• Tom Cunningham, Europe & Africa, Global Technology & Services Practice
• Sarah Driscoll, Europe & Africa, Global Technology & Services Practice
• Roman Wecker, Europe & Africa, Industrial Practice

Individuals appointed to Partner-in-Charge:

• Jane Xing, Beijing
• Jessi Gentile, Chicago
• Maliha Jilani, Dubai
• Kim Pomoell, Finland
• Kiwook Kim, Korea
• David Richardson, New York/Stamford
• Christina Besozzi Cary, Washington, D.C.

Individual promoted in Heidrick Consulting:

• Eric Joseph, leading North America on an interim basis

About Heidrick & Struggles
Heidrick & Struggles (Nasdaq: HSII) is a premier provider of global leadership advisory services and on-demand talent solutions, serving the senior talent and consulting needs of the world’s top organizations. Heidrick & Struggles pioneered the profession of executive search more than 70 years ago. Today, we partner with clients to develop future-ready leaders and organizations, combining our expertise in executive search, leadership consulting, and on-demand, critical talent solutions to achieve the highest levels of profitability and performance. Helping our clients change the world, one leadership team at a time.® www.heidrick.com 

Media Contact
Bianca Wilson
Global Director, Public Relations
Heidrick & Struggles
[email protected]

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LONDON, Jan. 6, 2025 /PRNewswire/ — Finastra, a global provider of financial services software applications, today announced a significant leadership transition. After nearly a decade of transformative leadership, Simon Paris will step down from his role as Chief Executive Officer. Chris Walters has joined Finastra and will assume the role of Chief Executive Officer.

Chris brings a wealth of experience from senior executive leadership positions, driving innovation and scaling technology companies. He recently served as CEO of Pluralsight and Avantax, a leading company within Financial Services, where he orchestrated significant performance improvement and the company’s successful sale. Prior to Pluralsight and Avantax, Chris served in a variety of leadership roles, including being a Partner at McKinsey & Company and the COO of Bloomberg Industry Verticals Group.

On his appointment, Chris said, “I’m excited to join Finastra at this pivotal moment in its journey and am impressed by the significant progress that has been made during Simon’s leadership. I look forward to working with the talented team to drive sustainable growth and continue to deliver more value to our customers, team members, and investors.”

Under Simon’s stewardship, the company has achieved remarkable milestones, including:

• Leading the charge in Open Finance, following the merger of Misys and D+H in 2017 to form Finastra
• Building a loyal customer base of over 8,000 clients in 130 countries, including 45 of the world’s top 50 banks
• Achieving recognition as a leader in Generative AI, with all employees upskilled and ~50 capabilities in progress from ideation to production stages
• Garnering extensive market accolades, including multiple product, culture, and leadership awards, and being named the #1 Banking Technology company, the #2 Financial Technology company, and appearing in the top 15 Software companies worldwide in 2024 alone
• Delivering record financial performance and double-digit Annual Recurring Revenue (ARR) growth

As Finastra embarks on its new strategic sprint in 2025, the company is well-positioned for continued success. During the transition period, Simon and Chris will work closely together to ensure a smooth handover.

Simon reflected on his tenure, saying, “This journey with Finastra has been a privilege. Chris is a seasoned professional, and I am honored to ‘pass the baton’ to him. I leave incredibly proud of what Finastra has achieved so far and excited for the company’s future under Chris’s leadership.”

About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of Open Finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world’s top 50 banks. For more information, visit finastra.com.

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