HMM chief CK Yoo in shock resignation

HMM chief executive CK Yoo has told colleagues he is resigning, despite a three-year contract extension last year. The boss of South Korea’s flagship carrier, Mr Yoo sent an internal note to colleagues announcing his departure. According to Splash 24/7 the note thanks the HMM team for the “reconstruction of HMM from the disarray for the last two and half years”. It is expected that he will make the announcement formally at the carrier’s next shareholder meeting in March.