Cosmax appoints Choi Kyung and Lee Byung-man as new co-CEOs

by Jo Youjin

Published 23 Mar.2020 08:37(KST)

[Asia Economy Reporter Yujin Cho] Cosmax Group (Chairman Kyungsoo Lee) announced that at the regular shareholders' meeting held on the 20th, Kyung Choi and Byungman Lee were newly appointed as co-CEOs.

This personnel appointment aims to secure expertise in the core businesses of cosmetics and health functional foods and to practice responsible management. CEO Kyung Choi (Vice Chairman) started at Daewoong Pharmaceutical, passed through Cosmax's domestic marketing headquarters, and served as General Manager at the Chinese subsidiary (Cosmax China, Guangzhou) for 16 years since 2004.

Director Byungman Lee of Cosmax (Vice President) has held positions such as Vice President of the Group's Planning and Coordination Office and Overseas Sales, as well as Vice President of the Domestic Marketing Headquarters. He has built expertise centered on Korea and China in the cosmetics field and is highly trusted internally for his humble attitude and informal communication style.

Lee Wankyoung, former auditor of Cosmax, was appointed as the new CEO (Vice Chairman) of the affiliate Cosmax BTI. CEO Lee previously served as CEO of GS EPS and GS Global and as auditor of Cosmax. He is evaluated as a leader who guides employees with soft leadership while emphasizing change and speed.

Co-CEO Byungjoo Lee of Cosmax BTI (Vice President) is responsible for management planning and support within the group and has overseen sales and marketing at the subsidiary Cosmax NBT. Recognized for outstanding achievements in the U.S. market, he is acknowledged for his excellent work ability through broad experience and international sensibility.

The existing CEO of Cosmax BTI, Sungki Moon (Vice Chairman), concurrently serves as CEO of Cosmax Bio along with overseeing the Group's health functional foods and pharmaceutical businesses. Jaechun Kim, CEO of Cosmax (Vice Chairman), has moved to the position of General Manager at Cosmax China, expected to accelerate connections between Korea and China.

A Cosmax official stated, "This personnel appointment signifies the selection of next-generation customized talents to lead the Fourth Industrial Revolution era and secure new growth competitiveness. Based on proven professional management capabilities in the field, we expect remarkable achievements contributing to the Group's growth."

Cosmax Group, established in 1992, is an ODM company specializing in cosmetics, health functional foods, and pharmaceutical research and development and production, with operations in Korea, China, the United States, Australia, Thailand, and Indonesia.