Kakao CEO Quits After Its SoKor Data Center Burned Down

South Korean internet giant Kakao said on Oct. 19 that Namkoong Whon, one of its two CEOs, has stepped down, Kim Jae-Won reported for Nikkei Asia.

Photo Insert: Namkoong Whon was named to head the tech giant in January after a former CEO nominee resigned over a controversial sell-off of stock options.

Namkoong Whon stepped down as the company faced harsh criticism from the government and the public over the handling of a fire at a data center during the weekend that caused a massive service outage and led investors to dump shares.

The company, in a filing with the stock market, said that Hong Eun-taek will be Kakao's sole CEO, as Namkoong has stepped down.

Namkoong was in charge of the company's business, while Hong has been focusing on environmental, social, and governance issues.

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