Lotte, Shin Yu-yeol's 'Future Growth Office' Reorganization... Full Overhaul of Executives in Their 40s

Lotte Holdings Future Growth Division Organizational Restructuring
Kim Su-nyeon, born 1980, Executive Director and Global Team Leader
Seo Seung-wook, born 1977, Executive Director appointed as New Growth Team Leader

The Future Growth Office, led by Shin Yu-yeol, Executive Director and head of the Future Growth Office at Lotte Holdings and eldest son of Shin Dong-bin, Chairman of Lotte Group, has reorganized its structure to strengthen its lineup.

According to industry sources on the 16th, Lotte Holdings' Future Growth Office recently carried out an organizational restructuring by dividing into the Global Team and the New Growth Team.

Last month, Lotte Group established the Future Growth Office, dedicated to global and new businesses, through personnel appointments. The Future Growth Office is responsible for managing new businesses such as bio and healthcare and discovering a second growth engine, but it did not have a detailed organizational structure. At that time, Shin, who was a director of basic materials at Lotte Chemical, was promoted to executive director while taking charge of the Future Growth Office. It was just one year after his promotion to director.

The team leaders of the two teams are all young executives born after the 1970s. First, the Future Growth Task Force (TF), which was simultaneously created at Hanil Lotte last year, was reorganized into the Global Team. The Future Growth TF was an organization established to discover future growth engines related to the group's mid- to long-term vision.

The Global Team leader is Director Kim Su-nyeon (born 1980), who also led the team in the Future Growth TF. Director Kim is known to have accompanied Executive Director Shin at CES 2023, the world's largest electronics and IT exhibition, assisting him.

The New Growth Team is led by Director Seo Seung-wook (born 1977). He is a former consultant at PricewaterhouseCoopers (PwC) and has been in charge of mergers and acquisitions (M&A) within the New Growth Team under Lotte Holdings' ESG (Environmental, Social, and Governance) Management Innovation Office. He moved along with the New Growth Team when it transferred to the Future Growth Office.

Meanwhile, Executive Director Shin, as head of the Future Growth Office directly under the CEO of the holding company, is expected to expand his involvement in management by participating in meetings personally chaired by Chairman Shin. He is also expected to attend Lotte Group's upcoming VCM (Value Creation Meeting, formerly the Presidents' Meeting) scheduled for the 18th.