Lock&Lock Appoints Kim Sung-tae as New CEO... Launches Dual CEO System

Kim Sung-tae, new CEO of Lock&Lock.

[Asia Economy Reporter Donghyun Choi] LocknLock has newly appointed Vice President Kim Sung-tae as co-CEO and will operate under a dual CEO system together with CEO Kim Sung-hoon starting this year.

LocknLock announced on the 26th that it held a regular board meeting and resolved to appoint co-CEOs. The newly appointed CEO Kim joined LocknLock in 2003 and has served as Head of Future Strategy Office, Head of Strategic Planning Division, Head of Production Division, and Global Chief Financial Officer (CFO).

CEO Kim is responsible for overall management, overseeing LocknLock subsidiaries in Korea, China, Vietnam, and establishing business plans. The existing CEO Kim Sung-hoon will decide company management policies and oversee overall corporate strategies and investments.

Through this personnel change, LocknLock aims to promote swift decision-making and efficient management based on expertise and strengthen responsibility management by area. Additionally, the company plans to implement region-specific tailored strategies and continue investing in systematizing business centered on four major categories and discovering new businesses.

Reflecting the rapidly changing distribution environment centered on online channels and consumers' lifestyle patterns, this year is planned as the inaugural year of the 'ALL NEW LocknLock' for a fresh leap forward. Furthermore, as ESG (Environmental, Social, Governance) emerges as a key metric in corporate management, LocknLock plans to expand sustainable management activities by enhancing capabilities in eco-friendly new businesses.

A LocknLock official said, "The newly appointed CEO Kim has accumulated diverse experience in overall LocknLock management for over 20 years," adding, "Together with CEO Kim Sung-hoon, they will devote their efforts to making strategic and swift management decisions so that LocknLock can grow into a lifestyle company."