Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
05/23/2025
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The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
October 20, 2022: -A leading manager at Kakao Corp., the operator of South Korea’s ultimate mobile page, KakaoTalk, will resign. His resignation comes following a fire at a data center due to a mass outage over the weekend and coming in between its messenger’s 53 million users worldwide.
Co-CEO Namkoong When apologized after the outage and said he would leave.
“I feel the heavy burden of responsibility more than this incident and will step down from my place as CEO and lead the emergency disaster task force witnessing the aftermath of the incident,” Namkoong added at a press conference at the office in the outskirts of Seoul.
“We will do our best to restore our users’ faith in Kakao and make sure incidents such as these never occur again,” he added.
Namkoong is appointing a CEO in March, according to the company’s website. Kakao reported 47.5 million active users in South Korea in the second quarter. That’s over 90% of South Korea’s population of 51.74 million people as of November 1, 2021.
Hong Eun-take, who led the company alongside Namkoong as co-CEO, will remain the sole authority of the company, according to the company’s filing.
“We sincerely feel guilty to all those that own suffered from the disruptions during the outage,” Hong stated as he turned alongside Namkoong.
Shares of the company are trading 4% higher in South Korea’s session after the press conference.
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