Shinsegae International to add managing director to its board Kim Duk-ju to join board as company aims to beef up cosmetics business
Translated by Kim So-in 공개 2022-03-18 08:15:17
이 기사는 2022년 03월 18일 08:13 thebell 에 표출된 기사입니다.
South Korean fashion and beauty business Shinsegae International has decided to add a managing director-level executive to its board of directors, aiming to promote further growth by bolstering its cosmetics business.Shinesegae Group appointed Lee Gil-han as new chief executive officer (CEO) of Shinsegae International in its regular executive reshuffle for 2022, replacing former CEO Jang Jae-young. Lee will take on a broader role in the company, overseeing both cosmetics and fashion divisions.
Kim Myo-soon, who spearheaded Shinsegae International's global cosmetics business, moved to Shinsegae Inc and Kim Duk-ju, who led luxury fashion business at Shinsegae, was appointed as the new managing director of cosmetics division at Shinsegae International.
Shinsegae Group has recently decided to add Kim Duk-ju to its board. The company will seek shareholder approval for Kim and new chief financial officer (CFO) Shin Sang-hwa’s appointment as inside directors at this year’s general shareholder meeting.
Shinsegae International’s board comprises four inside directors, including three presidents of each business division - international fashion, national fashion and cosmetics - and the CFO. It is natural for Shin to join the board as CFO while this is the first time a managing director - instead of president - of a business division is appointed as an inside director.
The number of the company’s inside directors will be reduced to three from current four upon shareholders’ approval. The company seems to aim to beef up its cosmetics business though Kim appointment to its board.
Born in 1970, Kim worked at Chanel Korea and joined Shinsegae to lead the international fashion business. Kim spearheaded luxury and international fashion business at Shinsegae Department Store and moved to Shinsegae International to lead the cosmetics business.
Shinsegae International is expecting its cosmetics business to grow amid its efforts to diversify its business portfolio after the acquisition of Swiss luxury skincare brand Swiss Perfection last year.
Shinsegae International posted the record earnings last year, delivering consolidated revenue of 1.45 trillion won ($1.19 billion) and an operating profit of 92 billion won, up by 9.5% and 172.4% year-on-year. The cosmetics business accounted for 92.8% of the company’s total operating profit in 2020. (Reporting by Seon-ho Kim)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 폴라리스오피스, 클라이원트와 AI 문서 자동화 협업
- '텐스토렌트 맞손' 코아시아, 자회사 400억 투자 유치
- [Red & Blue]'변압기 관련주' 바이오스마트, 자회사 효과 '톡톡'
- [코스닥 자사주 점검]'양날의 검' 자사주, 변화의 바람 불까
- [thebell interview]"XR 서비스 3종 출시, B2C 플랫폼 구축 원년"
- SL에너지, 바이오중유 제조인허가 취득
- [동아-일동 'R&D 협업' 승부수]동아에스티, 일동 아이디언스에 250억 베팅 '2대주주' 등극
- [Company Watch]LG유플러스, 매출 대비 R&D 비율 첫 1%↑ 'AI 공략 강화'
- SC엔지니어링, M&A 매물 출회 가능성은
- 5월 기준금리 동결 유력…4분기로 밀리는 인하 시점