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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Jisun] SK Innovation, which is set to merge with SK E&S on November 1st, is reportedly making leadership changes, replacing the CEOs of three of its energy affiliates.
According to business sources on the 23rd, SK Innovation is expected to announce the replacement of the CEOs of SK Energy, SK Geo Centric, and SK IE Technology as early as the 24th. As the company prepares for its upcoming merger with SK E&S, there is a demand for organizational restructuring, with underperforming affiliate CEOs likely to be replaced in this proactive move.
It has been confirmed that Oh Jong-hoon, president of SK Energy, who was appointed in last year's personnel reshuffle, will be replaced. SK Energy, which handles the key petroleum business within SK Innovation, has faced poor performance due to declining refining margins, impacted by prolonged high interest rates and the slow global economic recovery.
Na Kyung-soo, the long-serving CEO who has led SK Geo Centric for six years, will also step down. A veteran from Yukong, Na was appointed CEO of SK General Chemicals at the end of 2018 and has spearheaded large-scale investments, transitioning the petroleum-based business towards plastic recycling. However, this year saw continued poor performance in the petrochemical sector.
Kim Cheol-jung, president of SK IE Technology (SKIET), who was appointed in January last year, is also stepping down. SKIET, which manufactures electric vehicle (EV) battery separators, has been struggling with deteriorating performance, recording losses in the first half of this year amid a slowdown in EV demand.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
