Asiana's New CEO Jeong Seong-gwon... Major Executive Reshuffle

Major Overhaul of Presidents in Key Affiliates

As the court's decision on Korean Air's acquisition of Asiana Airlines approaches, on the 30th, Korean Air and Asiana Airlines passenger planes were moving toward the runway at Gimpo Airport apron in Gangseo-gu, Seoul. The Seoul Central District Court is expected to deliver a ruling on the injunction request filed by activist private equity fund KCGI against Hanjin KAL to prohibit new share issuance either today or tomorrow. If the court dismisses the injunction request, the acquisition process will accelerate, but if the injunction is granted, the acquisition is likely to be canceled. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Yu Je-hoon] Jung Sung-kwon, Executive Director and Head of the China Regional Headquarters, has been appointed as the new CEO of Asiana Airlines. In addition, major affiliates have undergone significant CEO changes as part of a renewal personnel reshuffle.

Asiana Airlines announced on the 31st that Jung, the former Executive Director, has been promoted and appointed as Vice President and the new CEO. Jung, who joined the company in 1988, is an aviation expert responsible for finance, planning, sales, human resources, and labor relations.

Additionally, Ahn Byung-seok, Executive Director, has been appointed as the new CEO of Air Busan; Nam Ki-hyung, Managing Director (promoted to Executive Director), as CEO of Asiana Airport; Cho Jin-man, Managing Director, as CEO of Air Seoul; and Seo Geun-sik, Managing Director (promoted to Executive Director), as CEO of Asiana IDT.

Furthermore, Asiana Airlines reduced seven executive positions in this personnel reshuffle and, to revitalize the organizational atmosphere, 15 executives (including 3 presidents, 3 vice presidents, 6 executive directors, and 3 managing directors, totaling 15) have been abruptly retired. Accordingly, Asiana Airlines appointed eight additional executives.

Asiana Airlines stated, "Due to external factors such as the novel coronavirus disease (COVID-19) causing a stagnant organizational culture, we have carried out a renewal personnel reshuffle replacing all CEOs and a significant number of executives to revitalize the organization and smoothly execute the ongoing airline integration plan."

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