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Large-scale water change for regular greetings a month earlier
Responsibility for poor performance and a willingness to accelerate innovation
Selected for 50 CEOs … The manager’s rank has been canceled
Promotion and new executives 20% less than last year
President Lee Young-gu has been named the new head of the Food BU
Chilsung Beverage Yoonki Park, President of Lotte Mart Seonghyun Kang
Lotte ‘Distribution Dinosaur’, which is in crisis due to the influence of online shopping and Corona 19, cut this year’s regular salute by 100 executives, a month earlier than the previous year, and carried out a large-scale inflationary salute with a large number of executives in the early 1950s moving forward as the new CEO. done. Lotte Group president Shin Dong-bin, who has proclaimed “emergency management”, has shown his willingness to accelerate innovation by recruiting young people while at the same time holding accountable for poor performance by dramatically reducing the number of executives.
According to Lotte Group on the 26th, about 180 (30%) of the 600 executives took off their clothes in the regular 2021 executive greetings of 35 affiliates in the four divisions (BUs), including Lotte Holdings, distribution, food, chemicals and hotels. . 86 people were promoted to new leaders. The number of promotions and new executives also dropped to 80% last year.
Lee Young-koo (58), the new head of the Food Bureau, has been promoted to president of Lotte Chilsung Beverage. Lotte Chilsung Beverage’s new CEO has been promoted and appointed CEO Park Yoon-ki (50), head of the corporate strategy division. Lotte Mart CEO Moon Young-pyo stepped down and Lotte Nestle CEO Kang Seong-hyun (50) was named the new CEO.
Lee Jin-seong (51), vice president, has been named representative director of Lotte Food. At Lotte Holdings, President Oh Seong-yup, head of the communications department, resigned and was promoted to Vice President Ko Soo-chan of Lotte E&C. Attorney Eun-jae Park, who was a former prosecutor, was hired as the vice president of the Compliance Management Office. As a result, the heads of all six BUs were replaced in two years.
Lotte Group explained: “It reflects President Shin’s will to overcome the crisis by promoting young managers who can quickly grasp market demand and actively discover new growth engines.”
Previously, the Lotte group announced an unusual greeting in August to predict a storm of year-end wishes. Vice President Hwang Gak-gyu (65), called the “second man” of the group, resigned and Lee Dong-woo (60) was named president. At the same time, the owner management strategy office was changed to the management innovation office, reducing the existing four teams to two and reducing the total number of owners by approximately 20%.
In this greeting, Lotte Group has simplified the ranks of executives and shortened the promotion period. Among the executive positions, Deputy Director A and Deputy Director B were combined into a Deputy Director and the promotion period was shortened to three years. Previously, it was 4 years of 2 years each. For executive and executive positions, the existing term was reduced from three years to two years and the existing three year term for the vice president was abolished. It means that if you get to the level of vice president, you will not be given a promotion period so that you can exercise “responsible management”.
The fixed salary for executives is also reduced. Instead, performance is assessed and part of the salary is paid in the form of incentives. In the distribution sector, he also receives applications for honorary retirement up to managerial level provided that the basic salary is 18-30 months.
Reporter Shim Hyun-hee [email protected]
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