[Column] The Build-up of a CEO Born in 1990 and CJ

CJ Group recently appointed a CEO born in 1990 in its regular personnel reshuffle. They appointed Bang Junsik, born in 1990 and the same age as Lee Seonho, the eldest son of the CJ chairman and head of the Food Growth Promotion Office at CJ CheilJedang, as the CEO of 4D Plex, a subsidiary of CJ CGV. After Lee returned in 2021, he significantly reorganized the executive ranks and promoted Bang as a management leader, continuing the 'performance-oriented personnel policy.' This can be interpreted as a message that even if one is young, as long as they deliver results, they can be entrusted with executive positions and even CEO roles.

Looking back, CJ has been steadily building up since Lee’s promotion to executive. However, what has been lacking in this consistent build-up is none other than the core of the personnel policy: 'performance.' Currently, CJ is considering the sale of its bio business division, which was one of the pillars of the company's growth. Many expect that the funds secured from the sale will be used to strengthen competitiveness in the food business.

In fact, CJ CheilJedang recently confirmed the construction of new K-food factories in Hungary and South Dakota, USA. As of the third quarter of this year, CJ CheilJedang’s overseas food business recorded sales of 1.4031 trillion KRW, showing a 5% growth. This growth offset sluggishness in China and Japan with gains in the Americas and Europe. The strategy appears to be to further increase overseas business sales through the new factories in Hungary and the USA.

The overseas food business is a core business directly led by Lee. In January 2021, Lee served as head of CJ CheilJedang’s Global Business division, and since 2022, he has been in charge of overseas business as the head of the Food Growth Promotion Office.

The stage is set. What remains is for Lee to deliver results. The obstacles to Lee’s aggressive management activities have also disappeared. Lee’s business success can silence all criticism and noise surrounding him, but if the opposite occurs, CJ’s personnel policy will fall into self-contradiction. The performance-oriented dismantling of seniority, consideration of the bio business division sale, and the direction of the food business are the reasons why this year’s CJ personnel reshuffle is viewed from multiple perspectives.