Daewoo Shipbuilding & Marine Engineering Co., Ltd. appointed Executive Vice President Ko Jae-ho as its next chief executive with current boss Nam Sang-tae on his way out. If granted approval by the company's board and its shareholders, Ko could be at the management helm by March 2012. Ko served as the president of its affiliate in Britain and also as the company's human resources officer. Nam earlier voluntarily resigned from the top post after Ko was listed as a CEO candidate by the committee. The current CEO will immediately step down from the position after the official nomination of Ko.