Chairman Son Kyung-sik "Enhancing Corporate Value by Building Super-Gap Capabilities"
Appointing Kang Shin-ho as New CEO
CJ CheilJedang announced that it will continue to nurture large categories beyond dumplings and accelerate its overseas business based on its super-gap capabilities, such as strengthening its No. 1 position in the pizza and Asian categories in the Americas, aiming to become a global top-tier food company.
On the morning of the 27th, Lee Hyung-jun, Head of Management Support at CJ CheilJedang, attended the 17th regular shareholders' meeting held at the CJ Human Resources Center in Pildong, Jung-gu, Seoul, on behalf of Son Kyung-sik, Chairman and CEO of CJ CheilJedang, and delivered this greeting.
On the 7th, Lee Hyung-jun, Chief of Management Support (Management Leader), delivered a greeting at the 17th CJ CheilJedang Shareholders' Meeting held at the CJ Human Resources Center in Pil-dong, Jung-gu, Seoul. [Photo by CJ CheilJedang]
Chairman Son said, “To leap to a global top-tier layer in the food business, we will accelerate global business with fast execution based on marketing and technology super-gap capabilities, and create new wellness value to lead the enhancement of CJ CheilJedang’s corporate value.”
To this end, he promised to continuously nurture large categories beyond dumplings as global strategic products and accelerate the expansion of mainstream markets in Europe and Australia. In the domestic market, processed foods will achieve overwhelming No. 1 status through core business and innovation growth and profitability enhancement by channel, while the materials business will maximize profits through business structure innovation such as data-driven operational advancement to avoid market fluctuations.
Furthermore, in the Bio and FNT businesses, based on super-gap capabilities in research and development (R&D) and technology marketing, the company will expand new demand and markets, continue qualitative growth centered on high-profit products such as tryptophan, nucleic acids, and specialty amino acids, and continuously strengthen global market leadership. The Feed & Care business emphasized, “We will promptly shift to a stable cash-generating structure through business structure optimization and profitability-focused portfolio restructuring to continuously enhance added value.”
Lastly, regarding the Red Bio business, he said, “CJ Bioscience will successfully advance clinical trials of immune oncology new drug projects, continuously expand follow-up pipelines, and build super-gap capabilities by advancing new drug discovery platforms, securing the foundation for new businesses early.” He added, “Batavia Bioscience will secure differentiated process development technology for the production and supply of next-generation biopharmaceuticals and provide various contract development and manufacturing (CDMO) services to establish a stable profit base,” emphasizing, “In the long term, we will pioneer advanced bio platforms through proactive investment and grow the Red Bio business into the group’s future business.”
Last year, CJ CheilJedang recorded solid performance in its core food business, but the Bio & FNT and Feed & Care businesses struggled due to delayed economic recovery in China, sluggish livestock industry conditions, and raw material cost burdens caused by a sharp rise in raw sugar prices. CJ CheilJedang’s sales last year decreased by 3.5% year-on-year to KRW 29.0235 trillion, and operating profit fell by 22.4% to KRW 1.2916 trillion.
Meanwhile, at the shareholders' meeting, the original proposal to newly appoint Kang Shin-ho, CEO of CJ Logistics, as the new CEO was passed. Through this appointment, Kang will return as CEO of CJ CheilJedang after four years. Kang joined CJ Group in 1988 through the open recruitment, serving as head of the group’s HR team, CEO of CJ Freshway, and head of CJ CheilJedang’s Food Business Division. He served as CEO of CJ CheilJedang until 2021 before becoming CEO of CJ Logistics.
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