The CEO of Korean Air, Cho Yang-ho, has been removed from its board after a string of scandals involving both him and his family. Cho has been indicted on a number of charges ranging from embezzlement to tax evasion, The Wall Street Journal reports.
While 70-year-old Cho lost his bid to stay on the board, he currently remains in the position of chief executive and chairman, which is a non-board role. Cho’s family currently owns roughly 32% of Korean Air, which is South Korea’s largest airline and flagship carrier.
Beyond Cho’s personal transgressions, in 2014 his daughter Heather Cho ordered a Korean jet to return to the terminal because she was upset she was served macadamia nuts in a bag rather than a dish on board, earning her prison time for violating aviation laws. At the time she served as head of the in-flight service for the airline. Other members of his family have been accused of smuggling luxury items as well as mistreating subordinates.
Cho needed to acquire 2/3 of the board’s vote in order to stay in his position, he was only able to win 64%, barely missing the requirement. Mr. Cho’s son remains on the board.
