CJ Group reshuffles top executives
[THE INVESTOR] CJ Group reshuffled its top executives on Nov. 24, including the top desks at food company CJ CheilJedang and CJ Corporation, in its first board shuffle since group chairman Lee Jay-hyun returned to management this May.
Shin Hyun-jae, 56, who spent time at CJ O Shopping as well as CJ Korea Express, was named the new president of CJ CheilJedang. Kim Hong-ki, 52, who held positions at CJ CheilJedang and CJ Corporation, was named co-president of CJ Corporation alongside Vice Chairman Lee Chae-wook.
A total of 81 executives were promoted on Friday, the largest scale ever for CJ.
“The reshuffle represents a generation change, with the CEOs at major affiliates such as CJ Corp. and CJ CheilJedang in their 50s,” said an official with CJ.
At the same time, CJ CheilJedang was restructured into two major sectors covering the bio and food industries, and a new planning office was set up at CJ Corporation.
President Shin Hyun-jae and Executive Vice President Kang Sin-ho will be responsible for heading up the bio and food business units of CJ CheilJedang, respectively.
CJ Corporation’s planning office will be headed up by Business Planning Executive Choi Eun-seok.
“The new planning office is designed to strengthen strategy planning according to the rapidly changing business environment, and will be responsible for creating the big picture for the group’s future,” the CJ official said.
Lee Jay-hyun’s daughter Lee Keong-hoo and her husband Jung Jhong-hwan, who head up CJ’s business in the United States, were also both promoted on Nov. 24 to managing director, indicating that CJ is speeding up its efforts to groom Chairman Lee’s heirs to take over management.
By Won Ho-jung/The Korea Herald (firstname.lastname@example.org)