POSCO Group, Executive Team Appointed Before Jang Inhwa's Launch... Emphasis on 'Stability'

Prioritizing Internal Executives
Maximizing Synergy in Steel Business

POSCO Group has abruptly carried out the executive appointments that had been postponed due to the next chairman selection process. By promoting internal executives with expertise in steel and other fields, the focus was placed on ‘organizational stability.’ This is interpreted as a determination to quickly resolve the internal turmoil that arose during the selection process of Jang In-hwa as the prospective chairman of POSCO Holdings and to restore normal management.

On the 21st, POSCO Holdings held a regular board meeting at POSCO Center and resolved to submit the agenda for the recommendation of POSCO Group chairman candidates and internal and external director candidates to the regular shareholders' meeting scheduled for the 21st of next month. Along with this, the appointments of presidents of major group affiliates were also decided.

From the left in the photo: Park Sung-wook, former Vice Chairman of SK Hynix (new outside director candidate), Kim Ki-soo, Head of POSCO Holdings Future Technology Research Institute, Kim Jun-hyung, Head of POSCO Holdings Eco-friendly Future Materials, Lee Si-woo, CEO of POSCO, Lee Gye-in, CEO of POSCO International, Jeon Jung-sun, CEO of POSCO E&C, Yoo Byung-ok, CEO of POSCO Future M

By appointing many metallurgy graduates as key executives of core affiliates, emphasis was placed on maximizing synergy among affiliates in the steel business.

Steelmaker POSCO will be solely led by CEO Lee Si-woo. Born in 1960, CEO Lee graduated from Hanyang University with a degree in Metallurgy and joined POSCO in 1985. He is a traditional ‘steelman’ with expertise across the entire steelworks, having served as head of the Maharashtra subsidiary in India, Gwangyang Steelworks manager, and head of the production technology division.

Kim Ki-soo, head of POSCO Technical Research Institute, moved to become head of the Future Technology Research Institute at POSCO Holdings. He graduated from Seoul National University with a degree in Metallurgy and has held positions such as head of the Engineering Solutions Office, head of the Low Carbon Process Research Institute, and head of the Technical Research Institute.

Also a Seoul National University metallurgy graduate, Yoo Byung-ok, head of Eco-friendly Future Materials at POSCO Holdings, was appointed CEO of POSCO Future M. The position of head of Eco-friendly Future Materials was filled by Kim Jun-hyung, CEO of POSCO Future M.

New CEO Yoo joined POSCO in 1989 and is regarded as the top expert in the group’s eco-friendly future materials field, having served as head of management strategy, head of raw materials, and head of the industrial gas hydrogen business division. Although there were initial concerns about slowing down the business in the secondary battery materials sector, it is expected that CEO Yoo will smoothly adapt to the work since he managed the secondary battery materials business at POSCO Holdings.

Lee Gye-in, head of the Global Division, was appointed CEO of POSCO International. He is an internal executive with experience in various fields including steel trading and materials. Former POSCO Holdings president Jeon Jung-sun returned as CEO of POSCO E&C, and Jeong Ki-seop, head of strategic planning at POSCO Holdings, was reappointed.

Vice Chairman Kim Hak-dong of POSCO, Vice Chairman Jeong Tak of POSCO International, and CEO Han Sung-hee of POSCO E&C, who competed with prospective chairman Jang, stepped down from their positions.

[Image source=Yonhap News]

Inside POSCO, this personnel move was interpreted as appointments made according to seniority and job roles. It reflects the style of prospective chairman Jang, a ‘wise leader’ aiming for a stable start without greatly shaking the organization in the early stages. A source familiar with POSCO Group said, “There were no surprising appointments. The vice chairmen stepped back to secondary roles, and the appointments smoothly passed to juniors.”

The POSCO Holdings board also established a ‘Chairman Candidate Management Committee.’ This is a measure to prevent confusion in advance and to lay the groundwork for stable succession preparation. Former SK Hynix Vice Chairman Park Sung-wook was recommended as a new outside director candidate.

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