Shinsegae Construction Sales Headquarters Director and Sales Manager Also Dismissed
Shinsegae Group has carried out a reshuffle, including the dismissal of the CEO of Shinsegae Construction.
On the 2nd, Shinsegae Group announced that it had dismissed CEO Jeong Du-young of Shinsegae Construction and appointed Heo Byung-hoon, Executive Vice President in charge of overall management at the Management Strategy Office, as the new CEO. Additionally, the head of sales and the sales manager were also dismissed.
This personnel change is significant as it is the first major reshuffle carried out at the group level following the promotion of Shin Yong-jin, Chairman of Shinsegae Group.
Heo Byung-hoon, appointed as the new CEO of the construction division, was born in 1962 and joined Samsung Group in 1988. He worked in the Management Diagnosis Team of the Restructuring Headquarters, handled finance at Samsung C&T, and served as CFO for the Americas region.
From 2011, he moved to Hotel Shilla, serving as Head of Management Support and CFO, and then joined Shinsegae Group in July 2018. Since then, he has held various positions including Vice President in charge of overall planning at the Strategy Office, Vice President in charge of support, Vice President in charge of management, Head of Planning and Strategy at the Department Store Division, and Head of Finance at the Strategy Office.
Given that Heo has overseen the group’s financial management as Executive Vice President of the Management Strategy Office, he is considered the ideal candidate to restore the financial soundness of Shinsegae Construction.
A Shinsegae Group official stated, "Appointing Vice President Heo, a key financial expert of the group, as the new CEO of the construction division expresses the group’s determination to take full responsibility for the financial issues of the construction business."
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