LF Announces Regular Executive Personnel Changes... Four Members Affected

Oh Gyusik CEO Vice Chairman Reappointed for Third Term

[Asia Economy Reporter Yujin Cho] LF (CEO Oh Gyusik) announced on the afternoon of the 16th that it held a board meeting and carried out a regular executive personnel reshuffle involving a total of four people. By rank, there is one Executive Director, one Managing Director, and two Deputy Managing Directors. This personnel change will take effect from January 1 of next year.

In this reshuffle, Managing Director Ahn Taehan, head of the Sales Operations Division, was promoted to Executive Director, and Deputy Managing Director Son Heekyung, head of the Cosmetics Business Division, was promoted to Managing Director. Additionally, Namgung Seon, Head of Financial Management Office (General Manager), and Lee Jaeyik, Head of LF Mall CX Headquarters (General Manager), were newly appointed as Deputy Managing Directors.

LF explained that it decided on this personnel change because it judged that strengthening competitiveness in e-commerce and future business sectors is essential to establish itself as a lifestyle culture company beyond a fashion company.

New Executive Director Ahn Taehan is a sales expert with experience at Homeplus and Samsung Life Insurance. After moving to LG Fashion in 2013 as head of the Store Sales Headquarters, he led continuous innovation in sales by introducing RFID on-site for the first time in the domestic fashion industry, driving process efficiency and business structure improvement.

In particular, throughout this year, he was recognized for his achievements in aggressively expanding the innovative O4O business model “LF Mall Store,” which links online malls and offline distribution, realizing simultaneous growth of online and offline channels despite the COVID-19 crisis.

New Managing Director Son Heekyung has led the launch of new in-house cosmetic brands such as the premium vegan women’s cosmetics brand “Atte” and has driven the growth of LF’s cosmetics business by securing entry into high-end distribution channels including Lotte Duty Free Myeongdong branch.

Meanwhile, at the board meeting held the day before, Oh Gyusik, Vice Chairman and CEO of LF, whose third term was confirmed, will lead LF again until March 2024. Vice Chairman Oh was inaugurated as CEO in March 2012 and was reappointed twice in 2015 and 2018, respectively.

Vice Chairman Oh is evaluated as having transformed LF from a fashion company into a lifestyle culture company and swiftly established an emergency management system during the COVID-19 pandemic, rapidly carrying out digital transformation.