By Kim Yoo-chul
Park Yong-maan, the Twitter-loving Doosan Corp. chairman, has taken over as the group chairman.
The 57-year-old was credited for leading Korea's oldest chaebol or family-owned conglomerate's transformation in portfolio from light industry to heavy industry.
He replaced Park Yong-hyun, a medical doctor who ran Seoul National University Hospital.
The outgoing chairman is the fourth among the reigning six Doosan brothers and older than the new chairman, who is the fifth.
Both of them had held their respective positions since 2009.
The changeover is expected to expedite a global expansion plan of the younger Park, who commanded a series of merger and acquisition (M&A) deals including Bobcat of the United States.
Park's appointment was made and approved at the board of directors' meeting, Friday.
"The board approved Park Yong-maan as chairman of the group," the group said in a statement. A ceremony is scheduled for Monday.
Park will speak to the media next week to unveil his new vision.
Current group Chairman Park Yong-hyun will lead the group's corporate social responsibility programs.
"We need a man to lead Doosan on a global path," the senior park was quoted as saying in a news release.
The outgoing chairman saw Doosan adopt a holding company system.
Doosan sold noncore businesses, including profitable ones, to improve its financial status and realign for a new portfolio. "That's the end of my job," the outgoing chairman said in the statement.
The new chairman is known as "bulldozer" for his aggressive and charismatic leadership. Under the new chairman's leadership, Doosan Infracore and Doosan Heavy Industries emerged as a new revenue source.