Shin Dong Bin’s ‘new Lotte’… Reinforced reform• responsible management of 4 business sections
Park Min Yeong | ironlung@ | 2017-02-22 15:34:48
Reshuffle• regular executive management to be carried out
Lotte Group, which has celebrated its 50th anniversary this year, appointed its new fifties as representatives of its subsidiaries and reorganized its affiliates to strengthen their responsibilities and independent management but reduced the group’s policy section. This personnel appointment is the first time for CEO-Shin Dong Bin to appoint personnel. Therefore it can be CEO Shin’s ‘new Lotte’ plan.
Lotte Group carried out reduction of the size of its policy section, which is considered as control tower of the Group, and reorganized its ‘2017 reshuffle and new executive management appointment’ on the February 21, focusing on changing 93 subsidiaries into 4 business units (BU).
Hwang Gak Kyu- the head of the Policy section (President) has been appointed to the new Management Innovation director, So Jeen Sae-the head of International cooperation department has been appointed to the chairman of Social contribution committee and Heo Soo Young-director of Lotte Chemical has been appointed to the director of Chemical BU. Besides, Lee Jae Hyuk-the director of Lotte Chinlseong Beverage Co., Ltd has been appointed to the director of Groceries BU.
9 subsidiaries including Lotte Chemical • Lotte Confectionery and Lotte Chilseong Beverages, Chemical and Food Sector held the board of directors meeting on the same day and confirmed the reorganization and personnel appointments. The personnel appointment of distribution, hotel and other business divisions are opened on February 22 ~ 23. 4 heads of BU will be represented by main Lotte subsidiaries. Heo Soo Young- director of Lotte Chemical was appointed to the director of Chemical BU, Lee Jae Hyuk- director of Lotte Chilseong Beverage was appointed to the director of grocery BU. Distribution BU, hotel, and other BU directors will be confirmed at the board of directors on February 22-23. Lee Won Joon-director of Lotte Department Store will be responsible for distribution BU and Song Yeong Deok- the director of Lotte Hotel will be appointed to the director of Hotel and other BU.
As a result of this reorganization, the policy section will be changed to ‘Management innovation department’ and ‘Compliance commission’ as of March 1, and the personnel of this section will be reduced to 140 from 200 employees, which is 70% of the personnel. The management innovation department will be responsible for the group business and is planned to consist of 4 teams such as Value management team, Finance innovation team, Communication team and HR team. Social contribution commission will carry out law-abiding management and judicial affairs, audit functions and is planned to set up compliance related regulations and policy.
New director of Management innovation department-Mr. Hwang was born in 1955 and graduated from department of chemical engineering of Seoul National University. He joined Lotte Chemical from 1955 and worked for new business and M&A along with overseas businesses. He was the head of policy section since 2014 and was responsible for the group management control. He has been leading the group innovation businesses such as omni-channel development and AI introduction. New director of Social contribution department-Mr. Seo has graduated from department of public administration of Korea University and joined Hotel Lotte. He was the head of Lotte Department Store, Lotte Super, Korea 7 eleven etc.
93 subsidiaries of Lotte Group have been reformed to 4 BU such as distribution, chemical, grocery, hotel and others. Every BU is the consultative group of other 4 BU and will be responsible for co-strategy establishment and local and overseas business development along with synergy improvement.
A representative of Lotte mentioned that ‘This reform is the prior step of a holding company change for management structure improvement’. Financial sections have not been included to BU based on separation of industrial and financial capital.
New directors of chemical and grocery have also been appointed. Especially, this appointment can be considered as generation replacement as most newly appointed directors are in their middle or late 50th. Kim Gyu Hyeon-director of Malaysia Lotte Chemical Titan has been appointed to the director of Lotte Chemical. Lee Hong Yeol-executive director has been appointed to Lotte Fine Chemical. Lotte Chilseong appointed Lee Yeong Goo to the new director of Beverage BG and Lee Jeong Hoon to the new director of Alcoholic beverage BG. Lee Wan Shin-executive director of Lotte Department Story has been appointed to the director of Lotte Home Shopping. Park Chan Bok-executive director of Lotte Logistics has been promoted to the director.
By Park Min Yeong ironlung@dt.co.kr
[ copyright ⓒ The Digitaltimes ]
Lotte Group, which has celebrated its 50th anniversary this year, appointed its new fifties as representatives of its subsidiaries and reorganized its affiliates to strengthen their responsibilities and independent management but reduced the group’s policy section. This personnel appointment is the first time for CEO-Shin Dong Bin to appoint personnel. Therefore it can be CEO Shin’s ‘new Lotte’ plan.
Lotte Group carried out reduction of the size of its policy section, which is considered as control tower of the Group, and reorganized its ‘2017 reshuffle and new executive management appointment’ on the February 21, focusing on changing 93 subsidiaries into 4 business units (BU).
Hwang Gak Kyu- the head of the Policy section (President) has been appointed to the new Management Innovation director, So Jeen Sae-the head of International cooperation department has been appointed to the chairman of Social contribution committee and Heo Soo Young-director of Lotte Chemical has been appointed to the director of Chemical BU. Besides, Lee Jae Hyuk-the director of Lotte Chinlseong Beverage Co., Ltd has been appointed to the director of Groceries BU.
9 subsidiaries including Lotte Chemical • Lotte Confectionery and Lotte Chilseong Beverages, Chemical and Food Sector held the board of directors meeting on the same day and confirmed the reorganization and personnel appointments. The personnel appointment of distribution, hotel and other business divisions are opened on February 22 ~ 23. 4 heads of BU will be represented by main Lotte subsidiaries. Heo Soo Young- director of Lotte Chemical was appointed to the director of Chemical BU, Lee Jae Hyuk- director of Lotte Chilseong Beverage was appointed to the director of grocery BU. Distribution BU, hotel, and other BU directors will be confirmed at the board of directors on February 22-23. Lee Won Joon-director of Lotte Department Store will be responsible for distribution BU and Song Yeong Deok- the director of Lotte Hotel will be appointed to the director of Hotel and other BU.
As a result of this reorganization, the policy section will be changed to ‘Management innovation department’ and ‘Compliance commission’ as of March 1, and the personnel of this section will be reduced to 140 from 200 employees, which is 70% of the personnel. The management innovation department will be responsible for the group business and is planned to consist of 4 teams such as Value management team, Finance innovation team, Communication team and HR team. Social contribution commission will carry out law-abiding management and judicial affairs, audit functions and is planned to set up compliance related regulations and policy.
New director of Management innovation department-Mr. Hwang was born in 1955 and graduated from department of chemical engineering of Seoul National University. He joined Lotte Chemical from 1955 and worked for new business and M&A along with overseas businesses. He was the head of policy section since 2014 and was responsible for the group management control. He has been leading the group innovation businesses such as omni-channel development and AI introduction. New director of Social contribution department-Mr. Seo has graduated from department of public administration of Korea University and joined Hotel Lotte. He was the head of Lotte Department Store, Lotte Super, Korea 7 eleven etc.
93 subsidiaries of Lotte Group have been reformed to 4 BU such as distribution, chemical, grocery, hotel and others. Every BU is the consultative group of other 4 BU and will be responsible for co-strategy establishment and local and overseas business development along with synergy improvement.
A representative of Lotte mentioned that ‘This reform is the prior step of a holding company change for management structure improvement’. Financial sections have not been included to BU based on separation of industrial and financial capital.
New directors of chemical and grocery have also been appointed. Especially, this appointment can be considered as generation replacement as most newly appointed directors are in their middle or late 50th. Kim Gyu Hyeon-director of Malaysia Lotte Chemical Titan has been appointed to the director of Lotte Chemical. Lee Hong Yeol-executive director has been appointed to Lotte Fine Chemical. Lotte Chilseong appointed Lee Yeong Goo to the new director of Beverage BG and Lee Jeong Hoon to the new director of Alcoholic beverage BG. Lee Wan Shin-executive director of Lotte Department Story has been appointed to the director of Lotte Home Shopping. Park Chan Bok-executive director of Lotte Logistics has been promoted to the director.
By Park Min Yeong ironlung@dt.co.kr