KoreanAir says chairman ChoYangho dies at 70
SEOUL - Korean Air chairman Cho Yang-ho has died, the South Korean airline said on Monday , less than three weeks after investors voted to remove him from the board in a landmark victory for shareholder activism.
The patriarch is survived his wife, Madam Lee Myung-hee, daughters Heather Cho Hyun-ah and Emily Cho Hyun-min, and son Walter Cho Won-tae, currently president and chief operating officer of Korean Air and most likely to succeed his father as head of the group. “Walter Cho is likely to inherit the chairman’s stake,” Mr Lee said. Because of the inheritance tax, the stake handed to Walter could be half of that owned by the late Cho, unless he is able to pay the full tax, he said.
The troubles began after Cho's elder daughter, Heather Cho, made headlines in 2014 when she lost her temper over the way she was served nuts in first class and ordered the Korean Air plane to return to its gate at a New York airport.
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