Shin Dong-won to Serve Only as Chairman of Nongshim Group... Vice President Lee Byung-hak Appointed as CEO

[Asia Economy Reporter Seungjin Lee] Shin Dong-won, chairman of the Nongshim Group, will step down as CEO.

Nongshim announced on the 26th that Lee Byung-hak (63), Executive Director of the Production Division, has been promoted to Vice President as of December 1, 2021, and has been appointed as CEO. Vice President Lee Byung-hak is expected to be officially appointed as CEO following approval at the regular shareholders' meeting scheduled for March next year. With this, Nongshim will have a co-CEO system with Vice Chairman Park Jun and Vice President Lee Byung-hak, while Chairman Shin Dong-won will step down as CEO and retain only the position of Group Chairman.

CEO Lee Byung-hak graduated from the Department of Agricultural Chemistry at Chungnam National University and joined Nongshim in 1985. He is a production expert who has worked on the production floor for 36 years. In particular, he played a major role in the automation of Nongshim’s factories and the introduction of cutting-edge production processes, and was promoted to Executive Director in charge of production at all Nongshim factories in 2017.

A Nongshim official explained, “By appointing a production expert with extensive knowledge and experience in factory equipment as CEO, we plan to further strengthen the foundation and internal stability to leap forward as a global company.”

Meanwhile, Shin Sang-yeol, the eldest son of Nongshim Chairman Shin Dong-won, will be promoted to Executive Director in charge of purchasing.

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