CJ Chooses Stability for 'Strengthening Fundamentals'... Accelerates Execution of Mid-Term Vision

CJ Executes Early October Personnel Changes
Strengthening Internal Stability
Accelerating 2023 Mid-Term Vision Execution
44 New Management Leaders...Young Talent Selected

CJ Group CI. / Photo by CJ Group

[Asia Economy Reporter Song Seung-yoon] CJ Group's recent regular executive reshuffle can be summarized as ‘strengthening internal stability’ through organizational stabilization. Amid ongoing domestic and international economic crises, most of the affiliate CEOs were retained to smoothly respond to the changing environment, and personnel changes focused on those who have been verified both internally and externally, according to analyses. It is also regarded as a personnel move to strengthen responsible management to enhance the execution of the ‘2023 Mid-term Vision’ announced by CJ Group Chairman Lee Jae-hyun in November last year.

According to industry sources on the 25th, CJ Group carried out the 2023 regular executive reshuffle early with the intention of reinforcing future growth centered on the mid-term vision. Compared to recent years when regular executive reshuffles were held in December, this was advanced by about two months. With only one year left until the mid-term vision’s deadline, the early reshuffle is interpreted as a move to pursue a more stable vision. CJ explained, "2023, when economic recession and increased global uncertainties are expected, is a decisive period that will determine the group’s future leap," adding, "The timing of the reshuffle was advanced with the intention that those who will work after next year should lead future growth centered on the mid-term vision." In November last year, CJ announced the 2021-2023 mid-term vision focused on four growth pillars: C.P.W.S. (Content, Platform, Wellness, Sustainability). At that time, Chairman Lee emphasized innovative growth and the importance of top talent for becoming a future lifestyle company, strongly urging fundamental innovation in organizational culture. CJ plans to start preparations for executing the new mid-term vision strategy for 2023-2025 immediately after the executive reshuffle.

In this reshuffle, most affiliate CEOs were retained to accelerate the execution of the mid-term vision. To strengthen the group’s overall external environment response capability, CJ established a new position of Head of Management Support at the holding company and appointed Kang Ho-sung, CEO of CJ ENM’s Entertainment Division. Accordingly, CJ Corporation will switch to a dual CEO system with the existing CEO Kim Hong-gi handling management and the newly appointed Kang Ho-sung taking charge of external cooperation-focused management support.

From the left) Kang Hoseong, Chief Management Officer of CJ Corporation; Gu Changgeun, new CEO of CJ ENM Entertainment Division; Lee Seonjeong, new CEO of CJ Olive Young. / Photo by CJ Group

The new CEO of CJ ENM’s Entertainment Division will be Gu Chang-geun, CEO of CJ Olive Young. Gu previously served as Head of Strategy 1 Office at the holding company and CEO of CJ Foodville and CJ Olive Young, proving his management capabilities. Gu is regarded as a restructuring expert and a strategic mastermind within CJ Group. At the same time, he enjoys strong trust from Chairman Lee and is considered his ‘right-hand man.’ Many view his sudden transfer as a relief pitcher for CJ ENM, which had relatively poor performance this year. Lee Seon-jung, who was head of the sales division, has been promoted internally to become the new CEO of CJ Olive Young, filling the vacancy. Born in 1977, Lee is the youngest CEO in the group and the first female CEO of Olive Young.

A total of 44 new executives were appointed to lead CJ Group’s future growth. The average age of the new executives is 45.5 years, continuing the trend of selecting capable young talent. Among them, eight are millennials born in the 1980s, and five are in their 30s. Female executives number seven, accounting for 16% of the total. Although this is slightly lower than the record 11 female executives appointed last year, it still represents a high ratio. This reflects Chairman Lee’s intention to actively select young talent based on performance and ability rather than gender or age. When announcing the mid-term vision last year, Chairman Lee stated his talent philosophy: "Anyone can become a leader regardless of age, tenure, or rank if they have capability and will."

Lee Seon-ho, Chairman Lee’s eldest son and management leader of CJ CheilJedang, was promoted to management leader in last year’s reshuffle and was not included in this external personnel list. However, he was newly appointed as Head of the Food Growth Promotion Office, moving up from his previous role as Food Strategy Planning 1 Manager, securing a key position. This is interpreted as a strategic move to strengthen the second-generation management system while taking on important group responsibilities. While serving as Food Strategy Planning 1 Manager, Lee successfully integrated the U.S. Schwans corporation and CJ Food corporation, laying the foundation for large-scale business in the Americas. He is also recognized for contributing to securing future growth engines such as plant-based foods and strengthening the structural competitiveness of the food business. Going forward, he will be responsible for strategic planning for global food business growth, mergers and acquisitions (M&A), new business investments, discovering future growth engines such as plant-based foods, and collaboration with in-house ventures and external startups.

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