South Korean transportation conglomerate Hanjin behind flag carrier Korean Air Lines has made executive reshuffle enabling return of a scandal-ridden family name to top management position in a logistics service unit.
In annual executive reshuffle announced on Wednesday, Hanjin Group said Cho Hyun-min will serve as president of logistics service unit Hanjin Transportation Co. upon promotion from executive vice president.
The promotion comes just a year after Cho Hyun-min, younger sister of Hanjin Group Chairman Cho Won-tae, was made an EVP. She had returned to management as marketing director in September 2020 after stepping down from all her positions in disgrace due to much-publicized temper tantrum.
Hanjin Transportation’s new president will be made CEO if she wins shareholders’ approval at the general meeting in March. For the moment, Noh Sam-seok, promoted as president, will represent Hanjin Transportation as sole CEO.
Ryu Gyoung-pyo, executive vice president and co-CEO at Hanjin Transportation is to transfer to holding entity Hanjin KAL Corp. as its CEO and president.
Korea Airport Service Co., Jin Air Co., and Jungseok Enterprise Co. will also receive new CEOs.
Lee Seung-beom, executive vice president at Korean Air Lines Co. is promoted to president and CEO at the aircraft management service provider Korea Air Service. Park Byoung-ryul, senior vice president at Korean Air Lines is moving to head budget carrier Jin Air. Kwon Oh-joon, senior vice president at Korean Air Lines was made CEO of Jungseok Enterprise, an office building management unit.
The group, however, has left out executive reshuffle for its main unit Korean Air Lines, which is still in process of integrating its full-service rival Asiana Airlines. The group is expected to announce top management team after regulatory approval process ends.
On Thursday, shares of Hanjin KAL fell 2.6 percent to close at 56,400 won ($47.49), and those of Hanjin Transportation 2.34 percent to 31,300 won.
By Lee Yu-seop and Cho Jeehyun
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