Kolon 4th Generation Lee Gyuho Promoted to Vice President After 2 Years... Head of Automotive Division

[Asia Economy Reporter Hwang Yoon-joo] Lee Kyu-ho, the eldest son of former Kolon Chairman Lee Woong-yeol and the fourth generation of the owner family, has been promoted to vice president as the Chief Operating Officer (COO) of Kolon Industries FnC division. This is a 'rapid promotion' just two years after being promoted to executive director in 2018.

Kolon Group announced that it conducted the regular executive appointments for each affiliate for the year 2021 on the 26th.

Executive Director Lee is the son of former Kolon Chairman Lee Woong-yeol, who stepped down as the head of Kolon Group in January 2019. Executive Director Lee has been promoted to vice president and will lead the automobile division of Kolon Global, which handles imported car distribution and maintenance business. Lee Kyu-ho joined Kolon Industries as a deputy general manager in 2012, was promoted to assistant director in 2015, becoming the youngest executive among Korea's top 100 companies at the time, then promoted to director two years later, and to executive director after one more year.

A Kolon Group official explained, "Executive Director Lee Kyu-ho was promoted in recognition of his achievements in overseeing the group's fashion business and leading the transition to an online platform," adding, "He is now taking on a new challenge in the imported car distribution and maintenance business."

Meanwhile, Kolon Group carried out executive appointments for a total of 36 people in this personnel reshuffle, including appointing Group Vice Chairman Ahn Byung-duk as CEO of the holding company Kolon Co., Ltd.

Vice Chairman Ahn Byung-duk, appointed as CEO of Kolon Co., Ltd., will also serve as chairman of the One and Only Committee, a consultative body of CEOs from major group affiliates. Ahn served as CEO of the holding company from 2014 to 2017 and has been the group’s vice chairman since 2018.