Samsung C&T announces new chiefs
From left are presidents Lee Young-ho and Koh Jung-suk and Executive Vice President Chung Keum-yong. / Courtesy of Samsung C&T
By Kang Seung-woo
Samsung C&T named three new heads for its core businesses, Tuesday.
According to the construction-to-trading arm of Samsung Group, Lee Young-ho and Koh Jung-suk have been promoted from executive vice presidents to presidents to lead the Engineering & Construction (E&C) Group and Trading & Investment (T&I) Group, respectively.
Also, Executive vice President Chung Keum-yong has been appointed as head of the Resort Group. He will also double as CEO of Samsung Welstory, a catering service company.
Samsung said its three new heads have served in important operational roles at the company and have proven track records in their respective fields.
Lee has helped drive the expansion and growth of Samsung C&T’s global business, having served as the chief financial officer and head of corporate management of Samsung E&C.
Koh is a commodity trading specialist, having led Samsung T&I’s chemicals team and later the chemicals and industrial materials division. Since 2015, he has been head of the group’s planning team, responsible for setting its strategic direction.
Chung has headed the overall business operations of Samsung Welstory since 2017, having previously served as chief of human resources for Samsung Electronics.
The leadership announcement came after their predecessors Choi Chi-hun, Kim Shin and Kim Bong-yung had offered to resign to pave the way for the next generation to lead the company.
“Together with our colleagues at Samsung C&T, we have had a tremendous journey of achievements and challenges. We are confident our successors will continue to deliver many success stories for the company," they said in a joint statement.
Choi has stepped down from his position as CEO of Samsung E&C, but he will remain as chairman of the board on the recommendation of independent directors.
It will be the first time for the company to separate its chief executive and board chair positions.
The new group leaders will join the board of directors at the annual general meeting in March.