● Director Lee Mun-seok of the Green Chemical Business Division Appointed as CEO
- A prepared and qualified candidate who has worked in various positions in the
company since 1979
- The new CEO is to lead the co-management system of the company’s two main
divisions with CEO Lee In-seok of the Life Science Business Division.
SK chemicals is set to strengthen the responsible management of each division of the company.
SK chemicals, now led by two co-CEOs (Lee Mun-seok and Lee In-seok), held a general shareholders’ assembly and a board meeting on March 22 and passed the resolution to appoint Director Lee Mun-seok of the Green Chemical Business Division as one of the two CEOs of the company.
CEO Lee entered SK chemicals in 1979 and has worked in various important positions in the company, including being the head of the Suwon plant; the director of Human Resources at the SK Structural Readjustment Execution Headquarters; the CEO of the Functional Material Business Division; the CEO of the Emollient Material Business Division; and, most recently, the CEO of the Green Chemical Business Division.
With the election of Lee Mun-seok as the new CEO, the leaders of the two main divisions of SK chemicals will ensure responsible management of each division, thereby working together for the success of the whole company.
SK chemicals consolidated the establishment of the Green Chemical Business Division and the Life Science Business Division in 2009 with Kim Chang-geun as the current chairman of the SUPEX Council, overseeing the management of the entire company.
The addition of a new CEO will further reinforce SK chemicals’ division-specific responsible management system, with the new CEO overseeing the Green Chemical Business Division that specializes in producing chemicals, biodiesels, and other such goods. CEO Lee In-seok will continue to oversee the Life Science Business Division responsible for producing pharmaceuticals, bio solutions, and the like. The two CEOs will exercise final decision-making authority in their respective divisions.
A spokesperson for the company commented, “The new management system clarifies the roles and responsibilities of each division, thereby strengthening the independence and professionalism of division management.”
With the new CEO appointed, the Green Chemical Business Division is now ready to rise as a global leader of eco-friendly material development and production, making most of the structural readjustment and innovation it has accomplished over the last several years.
The division will continue to expand each of its four core businesses (composite materials, high-function materials, bio-materials, and energy storage materials) and ensure the successful establishment of new projects, such as the PPS, to raise the division’s yearly revenue to KRW 1.7 trillion as well as the company’s overall revenue to KRW 2.4 trillion by 2015.
The general shareholders’ assembly held on March 22 also resulted in the re-election of Heo Gi-ho as a nonexecutive director, the passage of the independent and consolidated financial statements for Fiscal Year 44, the change to part of the Articles of Incorporation, and the passage of the resolution to limit the levels of remuneration for the board members.
