Kolon's managerial succession in full swing
Kolon Group headquarters in Gwacheon, Gyeonggi Province / Courtesy of Kolon Group
Kolon Group Vice Chairman Lee Kyu-ho
Kolon Group appointed Lee Kyu-ho, the eldest son of the group’s honorary chairman, as its new vice chairman during a year-end reshuffle of top management, the company said Tuesday.
Lee has been recognized for successfully reorganizing the business portfolio of the group’s automobile retail business over the past three years and launching Kolon Mobility Group this year. Lee, 39, started his career at Kolon Industries in 2012 and has since taken on key roles at the group's key affiliates.
The latest executive reshuffle is seen as Kolon’s push for a generational shift, to tackle growing global economic uncertainty.
He will be in charge of mapping out the group’s key strategies after the promotion. Previously, he served as president at Kolon Mobility Group. The company is an authorized dealer for major overseas brands, such as BMW and Audi. Under the leadership of Lee, Kolon Mobility has diversified its revenue channels and widened its service areas. It recently launched a rent-a-car business, called 702 Drive Plus.
After the latest reshuffle, Lee has tightened his footing as the group’s heir apparent. He has also worked as the group’s chief strategy officer since 2021 while serving as the former top executive of its mobility arm. Lee places his management focus on setting the group’s hydrogen business value chain more concretely and establishing its future growth strategy.
“Business uncertainties are growing day after day at a time when each economic bloc across the globe reinforces their ties,” an official from Kolon Group said. “We focused on unwaveringly enhancing the group’s future value and preemptively grabbing opportunities through the reshuffle of executives.”
The group also named a group of 16 new vice presidents and displayed a strong willingness for innovation and change through the generational shift. More than 70 percent of them are in their 40s.
Kolon also split its holding firm’s structure into strategy and management support. Lee will set strategies for the group while Vice Chairman Ahn Byung-duk will lead the support unit.