Hugel Inc., a leading global medical aesthetics company publicly traded in South Korea, held an extraordinary general meeting of shareholders on August 21 in Chuncheon, Gangwon Province, Korea. Shareholders approved all three agenda items as originally proposed. The resolutions included the approval of the company’s plan for holding and disposing of treasury shares, the appointment of an independent director to serve on the Audit Committee, and the approval of the grant of stock options.
Hugel also secured shareholder approval for the holding and disposal plan of its treasury share in line with the revised Commercial Act. The plan includes using treasury shares for employee incentive programs, including stock options and restricted stock units (RSUs), as well as for attracting and retaining key talent. It also provides for the approval of the grant of stock options to key executives and employees, further strengthening the company’s incentive structure as part of its efforts to enhance corporate value.
The meeting also adopted a resolution aimed at enhancing transparency in Hugel’s corporate governance. Under the revised Commercial Act, set to take effect in September, at least two independent directors who serve as Audit Committee members must be elected separately from other directors. To meet the requirement, Patrick Holt voluntarily resigned from his position and was subsequently re-elected by Hugel as an independent director to serve on the Audit Committee through a separate election.
“All of the proposed resolutions were approved with the support and trust of our shareholders,” said Daniel Chang, Korea CEO of Hugel. “We will continue to pursue transparent and responsible management by making reasonable use of treasury shares and strengthening our governance structure in line with the revised Commercial Act, while further enhancing corporate value to meet global standards.”
About Hugel
Established in 2001, Hugel is a global leader in medical aesthetics, specializing in the production of injectables for skin rejuvenation, including botulinum toxin, hyaluronic acid fillers, and skin boosters, as well as absorbable sutures and cosmetic products. With a proven track record of safety and quality, Hugel is deeply committed to advancing the industry through robust medical affairs, comprehensive training programs, and dynamic industry forums.
Over the past 25 years, the company has built a presence in more than 70 countries and operates nine global subsidiaries across the U.S., Australia, Canada, Taiwan, China, Hong Kong, Singapore, and Thailand. Leveraging strong industry momentum, Hugel is well-positioned for continued growth and market expansion worldwide.
(Photo caption) Hugel held an extraordinary general meeting of shareholders on August 21 at Elysian Gangchon in Chuncheon
