Cosmax Group Promotes Eldest Son Lee Byung-man and Second Son Lee Byung-joo to CEO Positions... Accelerating Second-Generation Management

Lee Byung-man, CEO of COSMAX.

Lee Byung-joo, CEO of Cosmax BTI.

[Asia Economy Reporter Lee Seon-ae] Cosmax Group is accelerating its second-generation management.

On the 30th, Cosmax Group carried out its regular executive personnel appointments for 2021, promoting Lee Byung-man, vice president and eldest son of founder Lee Kyung-soo, and Lee Byung-joo, vice president and second son, to presidents. Earlier in March, Cosmax Group had officially launched second-generation management by appointing Lee Byung-man and Lee Byung-joo as CEOs of the main subsidiaries, Cosmax and the holding company Cosmax BT&I, respectively.

Along with the promotion of Lee Byung-man as CEO of Cosmax and Lee Byung-joo as CEO of Cosmax BT&I, Yoon Won-il, CEO of Cosmax NBT, Jeon Hyun-soo, head of Cosmax Bio’s Shanghai branch, and Kim Jeong-hee, CEO of Three Apples Cosmetics, were also promoted to president.

Following this, Yang Chi-yeon (Cosmax China Sales Headquarters) was promoted to vice president, and Lee Jin-woo (Cosmax NBT Marketing Headquarters), Kim Nam-joong (Cosmax Production Headquarters), Kim Cheol-hee (Cosmax Marketing Headquarters), Choi Jeong-ho (Cosmax Design R&I), and Go Byung-soo (Cosmax China Strategic Marketing) were promoted to executive director.

New executives appointed include Yoon Sang-yoon (Cosmax BT&I Human Resources Planning), Shin Byung-mo (Cosmax Marketing Headquarters), and Nam Sang-beom (Cosmax Indonesia Quality Headquarters), each appointed as directors. The personnel changes involve a total of 33 people as of January 1, 2021.

Along with the promotions, the executive ranks at the R&I Center will be subdivided into Fellow F1 and F2 levels. This aims to secure a super-gap competitiveness in the global market and foster innovation not only in research and development (R&D) but also in design and IT sectors.

A Cosmax official stated, “This regular personnel appointment is significant in securing new growth competitiveness by selecting tailored talents for each division,” adding, “We expect remarkable achievements next year based on trust with clients and proven capabilities in the field.”

Meanwhile, Cosmax Group, established in 1992, is a cosmetics, health functional foods, and pharmaceutical ODM (research, development, production) company with operations in Korea, China, the United States, Australia, Thailand, and Indonesia. Last year, the group’s sales exceeded approximately 2 trillion won, and it is recognized as the world’s number one in the cosmetics ODM sector.

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