Lotte Shopping, Three-Person CEO System Including General Manager Kim Sang-hyun to "Strengthen Responsible Management" (Comprehensive)

Kim Sang-hyun, General Representative of Lotte Distribution Group HQ, and Jeong Jun-ho, Department Store Representative, Establish Three-Person Leadership System
Strengthening Responsible Management of Department Store and Mart Divisions... Expecting Synergy with Distribution Affiliates

Sanghyun Kim, General Manager of Lotte Distribution Group HQ.

[Asia Economy Reporter Yuri Kim] Lotte Shopping is strengthening responsible management with a three-person representative system, including General Representative Kim Sang-hyun.

On the 23rd, Lotte Shopping appointed Kim Sang-hyun, General Representative of Lotte Distribution Group HQ, and Jung Joon-ho, CEO of Lotte Department Store, as CEOs of Lotte Shopping through the 52nd shareholders' meeting and board meeting held at the Lotte Retail Academy auditorium in Yeongdeungpo-gu, Seoul. With this, Lotte Shopping now has a total of three representatives, including the existing CEO of Lotte Mart, Kang Sung-hyun.

By establishing a three-person representative system, Lotte Shopping has strengthened responsible management of its core business divisions, department stores and marts, centered on Vice Chairman Kim Sang-hyun, who oversees the distribution group, while laying the foundation for swift decision-making.

Kim Sang-hyun, newly appointed as General Representative, currently leads Lotte Group’s Distribution Group HQ based on his experience working at domestic and global manufacturing and distribution companies such as P&G ASEAN President, Homeplus CEO, and DFI Hong Kong Singapore corporation CEO. The company expects him to contribute to the development of shareholders and the company based on his experience and understanding of the distribution industry and customer-centric management philosophy.

Jung Junho, CEO of Lotte Department Store.

CEO Jung Joon-ho is an expert who introduced various famous overseas brands to Korea through his roles as head of Shinsegae International’s Overseas Fashion Division and CEO of Lotte GFR, and currently serves as CEO of Lotte Shopping’s Department Store Division. Together with Kang Sung-hyun, CEO of Lotte Mart, they will be responsible for managing Lotte Shopping’s two major business divisions.

Meanwhile, Vice President Jang Ho-joo, appointed as an inside director through this shareholders' meeting, has accumulated expertise based on his extensive experience as an executive in the finance sector and will play a role in Lotte Shopping’s financial decision-making. The appointment of three outside directors was also approved. Professor Kim Yong-dae is an expert in statistics, Professor Shim Soo-ok in marketing, and Attorney Cho Sang-chul in law; each is expected to contribute their expertise to Lotte Shopping’s key decision-making.

Additionally, amendments to Lotte Shopping’s articles of incorporation were approved, including adding liquor retail business and general restaurant business to the business purposes, inserting a clause to prevent the board of directors from being composed entirely of one gender, and adding a transparent management committee and an ESG (Environmental, Social, and Governance) committee within the board. These changes aim to explore business diversification, comply with capital market law requirements regarding board gender composition, and strengthen Lotte Shopping’s ESG committee activities.

Meanwhile, all 11 agenda items submitted at the shareholders' meeting were approved.

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