Lotte replaces 21 CEOs, slashes executive jobs by 22% in drastic reshuffle

Quick Summary:

South Korea’s retail-to-chemical conglomerate Lotte Group on Thursday replaced 21 chief executives across its affiliates and slashed executive jobs by 22% in a sweeping leadership reshuffle amid rumors of a liquidity crisis.

Rho Joon-hyung, head of the Management Innovation Office at Lotte Corp., was promoted to president to spearhead the group's business restructuring and innovation efforts.

Lotte said 21 CEO-level executives, accounting for 36% of the group affiliates’ entire CEOs, were replaced while 22% of executive-level officials stepped down – a move designed to streamline its decision-making process and improve organizational efficiency.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: Economy

Markets: South Korea

Topics: Chief Lotte Group Business President Chemical #lotte Vice Corp Replaced Management

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-28 @ 20:56:06 (1 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 501 words

Reading Time: 3 minutes read

Sentences: 28 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 23918685

View Article Analysis

About Korea Economic Daily

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 11 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 4 hours ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

Publisher Details

Frequently Asked Questions