POSCO names new CEOs for trade, E&C, energy units

From left are new POSCO International CEO Joo Si-bo, POSCO Engineering & Construction CEO Han Sung-hee and POSCO Energy CEO Jeong Ki-seop. Courtesy of POSCO

By Nam Hyun-woo

POSCO replaced the CEOs of its trade, construction and energy units, in order to have younger leaders driving future growth, the steelmaking group said Friday.

POSCO International appointed Joo Si-bo, who currently leads the trading firm's energy department, as its new CEO, replacing Kim Young-sang. Joo previously led the company's overseas manufacturing and oil & gas management divisions.

POSCO Engineering & Construction will be led by Han Sung-hee from POSCO's business management division, replacing Lee Young-hoon. The group said Han has rich experience in finance, strategy, investment and overseas business, which will help improve the firm's cost competitiveness.

POSCO Energy appointed Jeong Ki-seop as its new CEO, replacing Park Ki-hong. The group said Jeong will play a pivotal role in expanding POSCO Energy's LNG and other power businesses.

The appointments will be approved at each unit's board meeting and shareholder meeting.

“With the executive reshuffle, POSCO seeks to make progress within stability to overcome expected external headwinds such as the global economic slowdown,” a POSCO Group official said.