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Kevin Warsh, incoming Chair of the U.S. Federal Reserve. (Photo: Reuters/Yonhap News) |
[Alpha Biz= Paul Lee] Kevin Warsh, the incoming chair of the Federal Reserve, has initiated the sale of shares in Coupang, in a move aimed at eliminating potential conflicts of interest ahead of his tenure.
According to filings with the U.S. Securities and Exchange Commission on May 16 (local time), Warsh disclosed plans to sell 102,363 shares of Coupang Class A common stock.
The shares were granted as restricted stock units (RSUs) across four tranches between August 2021 and June 2025 as compensation for his service on Coupang’s board. The planned sale is valued at approximately $1.68 million (KRW 2.52 billion), based on market prices.
The divestment is widely viewed as a step to comply with Federal Reserve ethics rules, which prohibit the chair and board members from holding individual corporate equities. Warsh currently holds roughly 459,000 shares of Coupang, with the planned sale representing about 22.3% of his total stake.
Market observers expect additional filings as Warsh gradually unwinds his remaining holdings, likely through staggered transactions to minimize market impact.
Warsh served on Coupang’s board since October 2019 but stepped down on May 13 following his Senate confirmation as Fed chair.
He is also the son-in-law of Ronald Lauder and is regarded as one of the wealthiest individuals to assume the Fed chairmanship. Financial disclosures released in April show that he and his spouse hold combined assets of at least $200 million (approximately KRW 300 billion).
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
https://www.alphabiz.co.kr/news/view/1065540490453903
This article is based on global economic content from Alphabiz, which distributes English-language news on Korean markets and companies to international audiences.
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