After Establishing the Dual Leadership of Yongho Jang and Hyungwook Choo
President Jang Sends Email Letter to Employees
Encourages: "Let Us Make It the Best Company Again"
Yongho Jang, who was appointed as the new President and CEO of SK Innovation, has put 'portfolio rebalancing' at the forefront immediately after taking office, aiming to enhance execution. This move is expected to accelerate restructuring efforts for overcoming the current crisis and strengthening competitiveness. Choo Hyungwook, who was appointed as the new CEO alongside Jang, is expected to communicate with employees through future town hall meetings and other channels.
In an email letter sent to all members of SK Innovation's affiliates on June 2, Jang stated, "Let us make SK Innovation the most competitive company once again," emphasizing, "Portfolio rebalancing is an essential task for survival." Rebalancing refers to SK Innovation's ongoing strategy of restructuring its business portfolio, which involves divesting non-core businesses and increasing investments in future industries. Alongside rebalancing, he also presented operation improvement (OI) and 'one team spirit' as concrete management directions.
Jang announced his intention to lead operational improvements centered on each business subsidiary and in-house independent company. He expressed his commitment to focusing on directly identifying and implementing field-driven measures to enhance competitiveness. He also stated that he would spare no investment to support these efforts. He added, "The most important thing for overcoming the crisis facing SK Innovation is for leaders and members across the SK Innovation group to unite their efforts," and continued, "The challenges before us are difficult to solve unless we are united in mind and purpose. Please join forces in execution with one team spirit."
Jang, who joined Yukong (now SK Innovation) in 1989, has served at SK Inc., SK Materials, and SK Siltron, and was appointed as President and CEO at the end of last month. This marks his return to SK Innovation after 17 years. He said, "I feel a tremendous sense of responsibility," and added, "I will do my utmost to overcome the current difficulties."
Jang concluded by saying, "If we work together and unite our strength, I am confident that we can not only overcome the current crisis but also transform into a stronger and more competitive company," and added, "Although these are challenging times, let us encourage one another and boldly create the future of SK Innovation together."
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