Enhancing Management Stability and Crisis Response
Huh Tae-soo "Speeding Up the Discovery of Future Growth Engines"
GS Group headquarters building (GS Tower) exterior view.
[Asia Economy Reporter Oh Hyung-gil] Most of the CEOs of major GS Group affiliates have been retained. This move aims to ensure management stability and continuity amid increasing business environment uncertainties, while simultaneously enhancing crisis response capabilities.
On the 30th, GS Group announced executive appointments for a total of 32 people, including 2 promotions to vice president, 6 promotions to senior managing director, and 21 new managing directors.
The company explained that since Chairman Huh Tae-soo took office, the group has established structural improvements and innovations over the past three years, achieving solid performance. This is a strategic move to further strengthen the foundation for sustainable growth and innovation through the experience and expertise of the current management team.
Lee Tae-hyung, Executive Director and CFO of GS Corporation as well as PM team leader, will be promoted to vice president. Vice President Lee has been actively supporting the discovery of new business opportunities while managing the overall group business stably. He has been assigned the mission to proactively respond to risk factors across the group and actively support the discovery of future growth engines.
Additionally, Kim Chang-soo, Executive Director and Head of GS Caltex’s Sustainability Management Office, was promoted to vice president and will lead the Mobility & Marketing (M&M) Division. Vice President Kim has extensive experience in lubricants, petrochemicals, refinery retail, and business support areas including internal and external communications. He is expected to accelerate mobility service innovation in the era of energy transition.
Furthermore, Seon Seon-gyu and Choi Woo-jin, Managing Directors of GS Caltex; Jung Young-tae and Kim Jin-seok, Managing Directors of GS Retail; and Kim Sang-hyun, Managing Director of GS Global were promoted to senior managing directors. Lim Cheol-hyun, Managing Director and CEO of GS Pocheon Green Energy, was promoted to senior managing director and transferred to become CEO of GS Donghae Power.
The number of new executives leading new business and digital transformation has also significantly increased. Among the 21 newly appointed managing directors, 10 are personnel driving new business and digital transformation initiatives.
Notably, Huh Tae-hong, Managing Director and CEO of GS Futures, which supports the discovery of future growth opportunities across GS Group through investments in North American technology startups, and Huh Jin-hong, Managing Director and Head of Investment Development Business Group at GS Engineering & Construction, were also appointed as new executives. Managing Director Huh Tae-hong is the second son of Huh Myung-soo, former Vice Chairman of GS Engineering & Construction, and Managing Director Huh Jin-hong is the second son of Huh Jin-soo, former Chairman of the Board of GS Caltex and GS Energy.
GS is encouraging the organization to maintain a sense of urgency while further dedicating efforts to innovation and the discovery of new business opportunities, which have been continuously pursued since Chairman Huh’s inauguration.
Chairman Huh Tae-soo said, "Despite difficult conditions this year, all affiliates have delivered results. The recent rapid changes in the business environment are outwardly threats but essentially new opportunities. I urge all employees to enhance their crisis response capabilities and accelerate the discovery of future growth engines with greater urgency."
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