Lotte's Shin Dong-bin Reshuffles Team... Holds First Executive Meeting of 2020

Shin Dong-bin, Chairman of Lotte Group

[Asia Economy Reporter Minyoung Cha] Shin Dong-bin, Chairman of Lotte Group, will visit Jamsil Lotte World Tower on the afternoon of the 15th to attend the first half of the year Lotte Presidents Meeting (VCM·Value Creation Meeting).

According to Lotte Group, about 100 people are expected to attend the meeting, including Chairman Shin Dong-bin, presidents of affiliates, Business Unit (BU) heads, and holding company executives.

At this meeting, the 2020 economic outlook, review of 2019 group company performance and mid-term plans, major group issues and strategies will be shared. A talk concert will also be held where key affiliate Digital Transformation (DT) promotion executives gather to discuss the current status of Lotte DT promotion and future challenges.

Since Lotte Group carried out a large-scale personnel reshuffle last year, it seems that major pending issues are piled up. When Lotte Group announced the 2020 regular executive appointments, two heads of the distribution BU were replaced, and most of the leading affiliates appointed professional CEOs in their 50s. The focus was on 'generation change' and 'Global Lotte.'

In terms of organization, Kang Hee-tae, Vice Chairman and Head of Lotte Group Distribution BU, took on the role of a control tower leading an integrated corporation covering all of Lotte's distribution channels, and worked to maximize business synergy by integrating liquor and beverages.

This content was produced with the assistance of AI translation services.