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Biz News Korea(Eng)
SK Group chief’s cousin to be named as head of SK SUPEX Council
- Collected
- 2023.12.05
- Distributed
- 2023.12.06
- Source
- Go Direct
Chey Tae-won, left, and Chey Chang-won
According to multiple sources from the conglomerate circle on Monday, SK Group will carry out an executive reshuffle on Thursday. Its key affiliates including SK innovation Co., SKC Co., and SK ecoplant Co. will each hold a board meeting on Tuesday and Wednesday.
The final reshuffle plan was approved by Chairman Chey Tae-won last week, sources said.
Under the plan, SK Discovery Co. Vice Chairman Chey Chang-won, also a cousin of Chairman Chey, is expected to be the new leader of the SUPEX Council, SK Group’s highest advisory group.
Having devoted nearly three decades to SK Group, Vice Chairman Chey entered the Management Planning Office in 1994, showcasing his expertise in planning and finance.
Recognized for his knack for exploring new business opportunities and restructuring operations, he brings a wealth of experience to his new role.
“Chairman’s decision to assign Vice Chairman Chey the pivotal role reflects the trust placed in him and acknowledgment of his strong management capabilities,” a source said.
Vice Chairman Chey has the largest stake in SK discovery with 40.18 percent. Its subsidiaries include SK gas Co, SK chemicals Co, and SK plasma Co.
The latest reshuffle, in the meantime, marks the first major generational change in SK Group’s leadership in 7 years.
SK siltron CEO Jang Yong-ho and SK enmove CEO Park Sang-kyu are expected to be named as new chiefs of SK Inc. and SK innovation Co, respectively, taking over the leadership role from their older peers.
By Chung Seung-hwan and Han Yubin
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