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[Alpha Biz=(Chicago) Reporter Kim Jisun] Shinsegae Group has carried out personnel changes of 40% of its CEOs, including the simultaneous replacement of representatives of E-Mart and department stores.
Shinsegae Group conducted regular executive appointments on the 20th, which included the appointment of Han Chae-yang, CEO of Chosun Hotel & Resort, as the head of E-Mart, and Park Joo-hyung, CEO of Shinsegae Central City, as the head of the department store. Nine out of 25 representatives of affiliates have been replaced.
Shinsegae Group said it focused on "change and renewal," "strengthening synergy" and "building a performance-based system." In particular, it introduced a new organizational operating system while boldly deploying talented young people.
A new CEO will be in charge of offline distribution business groups such as E-Mart Everyday and E-Mart 24 as well as E-Mart, and operate under an integrated representative system of the three companies. Its strategy is to maximize synergy by tying affiliates with the same personality. A new representative is considered to be good at management and performance improvement as he is known as a financial pain reliever in the group. He served as CEO of Chosun Hotel & Resort from 2019 and improved operating losses from 70.9 billion won in 2020 during the COVID-19 pandemic, turning to a surplus last year with operating profit of 22.2 billion won.
The new CEO Park, who will lead the department store, will head the Central City together.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
