Lotte Shopping Reduces HQ Role... Grants Independence to Department Stores
Dedicated Planning and HR Personnel Assigned
Lotte Department Store's Corporate Planning Team
Operates Directly Under CEO Hwang Beom-seok
[Asia Economy Reporter Minyoung Cha] Lotte Shopping is reducing the role of its integrated corporation (HQ) that oversees all business divisions and strengthening the independence of its department store division by assigning dedicated planning and HR personnel under the department store business unit.
According to industry sources on the 15th, Lotte Shopping carried out an organizational restructuring on the 11th based on these details.
In this restructuring, Lotte Shopping transferred some tasks and personnel of the Planning Strategy Headquarters’ planning, profit and loss, and HR (human resources) teams under HQ to the department store division.
A Lotte Shopping official explained, "While the existing Mart division and e-commerce division had dedicated planning and HR teams, the department store division did not have a dedicated team because the HQ was organized mainly around the department store."
The newly established Business Planning Team within the department store division will operate directly under Hwang Beom-seok, CEO of Lotte Department Store. It will be responsible for budgeting, investment, and support tasks. The HQ Planning Strategy Headquarters’ profit and loss team will be divided and transferred to the Department Store Sales Strategy Team and Business Planning Team, while the HQ Support Headquarters’ HR team will be changed to the HR Team and Corporate Culture Team within the department store support division.
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Meanwhile, the Lotte Department Store division recorded sales of approximately KRW 606.3 billion on a consolidated basis in the first quarter of this year, accounting for 14.9% of total sales. This represents a 21.5% decrease from KRW 772.1 billion in the previous year. During the same period, quarterly operating profit was about KRW 28.5 billion, accounting for 54.6% of the total.
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