Cosmax Group Appoints Sim Sang-bae as CEO of Cosmax

Cosmax Group Appoints New CEO at Shareholders' Meeting
'Maximizing Synergy in Health & Beauty Business' to Become a Leading Company

[Asia Economy Reporter Lim Hye-sun] Cosmax Group announced that at the shareholders' meeting held on the 26th, Shim Sang-bae was newly appointed as CEO of Cosmax, and Lee Yoon-jong was newly appointed as CEO of Cosmax BTI. This personnel appointment aims to establish a professional management system and to expect synergy from the convergence of cosmetics and health functional food businesses.

Shim Sang-bae, appointed as CEO of Cosmax, is an expert in the cosmetics industry who led the revival of K-Beauty. He joined Taepyeongyang in 1980, served as CEO of Amorepacific, and was an auditor at Cosmax BTI. Based on his 30 years of experience in various fields including cosmetics research and development (R&D), business planning, and organizational management, he plans to focus his capabilities on establishing a new vision for Cosmax.

Lee Yoon-jong, the new CEO of Cosmax BTI, is expected to play the role of a control tower for the health functional food business (Cosmax NBT and Cosmax Bio) within the holding company. He has served as CEO of Aju Capital and CEO of Cosmax NBT, and is highly regarded for his excellent abilities in new business strategy formulation and management.

A Cosmax official said, "This personnel appointment aims to strengthen expertise in each field while maximizing synergy through the convergence of health & beauty businesses," adding, "We expect them to lead the group's future strategy in the post-COVID environment with broad insight and leadership."

Along with this, Cosmax plans to accelerate ESG (Environmental, Social, and Governance) management to pursue sustainable growth. Since last year, the management committee, which has been operated internally to improve governance, was stipulated in the articles of incorporation and elevated to an official organization.

Additionally, to expand the use of renewable energy, Cosmax will increase related investments and continue participating in the CDP (Carbon Disclosure Project) to reduce greenhouse gas emissions.

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