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Biz News Korea(Eng)

CJ Group simplifies organization, makes biggest promotions

Collected: 2017.11.24

Distributed: 2017.11.27

Source: Go Direct

South Korea’s CJ Group on Friday re-organized its key food unit CJ Cheiljedang Corp. by simplifying four divisions into two food and bioscience operations and made largest-ever executive and employee promotions for a generational shift.

CJ Group consolidated CJ CheilJedang’s four units - food, food ingredient, bioscience, and feed & livestock into two businesses - food and bioscience. It promoted Shin Hyun-jae, 56, as CJ CheilJedang’s new chief executive officer and head of the company’s consolidated bioscience business, and Kang Shin-ho, 56, director of the food business before the organizational reshuffle to chief executive vice president spearheading the new food division.

The group also promoted Kim Hong-ki, 52, CJ’s chief executive human resources officer as holding entity CJ Corp.’s co-CEO. Sohn Kwang-soo, 57, co-CEO of CJ Logistics Corp. and Huh Min-heoi, CEO of CJ O Shopping Co. were promoted to higher executive level.

In the latest management reshuffle, the group promoted a total of 81 employees and 42 executives.

Lee Kyung-hoo, 32-year-old eldest daughter of CJ Group Chairman Lee Jae-hyun and marketing head of U.S. division was promoted to vice president. Her husband Jung Jong-hwan, director of U.S. division was also promoted to vice president. The two moved up to management level in the group’s reshuffle conducted in March this year following the chairman’s de facto return to the company upon release from prison. The chairman was behind bars after he was charged with embezzlement, breach of trust and tax evasion in 2013 was pardoned in August last year.

The group conducted re-organization and replaced the management with younger senior executives to prepare better against the future, said a CJ Group official.

By Lee Duk-joo and Cho Jeehyun

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