Samsung Group’s de facto holding company Samsung C&T held its 52nd shareholders meeting on Friday to review reforms aimed at boosting revenue in the face of rising uncertainties in the global economy.

At the meeting, Samsung C&T changed its policy of appointing the chairman of the board. Previously, the company's chief assumed the role, but any board director—including nonexecutive directors—can now chair the board.

The company also decided on the stock dividend, with common stock as 500 won while preferred stock as 550 won.

Samsung C&T CEO Choi Chi-hoon said at the meeting that 2015 was one of the worst years due to slumping global growth and worsening demand.

Choi added that this year would also be challenging, citing low oil prices, a looming Fed interest hike and a slowing China.

He vowed to revamp the company’s growth potential by implementing reforms and increasing cooperation and coordination among the firm’s units.

The CEO said the company’s trading arm would enhance risk management by streamlining operations and improving efficiency. Choi also said the firm’s construction arm would focus on key markets and clients and continue a reform plan dubbed the “Three-E Cycle”, an acronym for expertise, execute and expand.

Samsung C&T’s fashion unit will work to increase online and mobile sales channels, and accelerate product development on wearable devices that combine IoT technologies with apparels.

Samsung C&T will also continue efforts to expand its foray into the food industry by increasing overseas sales.

Choi also stressed the firm would increase regular communications with shareholders and improve the firm’s multiple public service programs.

Friday's gathering marks the first shareholders meeting since Samsung C&T merged with Cheil Industries last September, to become the South Korean conglomerate’s de facto holding firm.