Alphabiz - Lotte Chairman Shin Dong-bin to Step Down from Lotte Chilsung Beverage Board

Photo = Yonhap news

[Alpha Biz= Paul Lee] Lotte Group Chairman Shin Dong-bin will step down from his position on the board of directors of Lotte Chilsung Beverage.



According to the Korea Exchange (KRX) KIND system on Thursday (6th), Lotte Chilsung announced that it will not propose Shin's reappointment as an internal director at the upcoming shareholders' meeting on March 25. Shin had returned to the board in 2023 after a three-year absence as part of his commitment to responsible management. His term will officially end on March 22.


The vacancy left by Shin will be filled by Lee Young-gu, Head of Lotte Group's Food Business HQ. Lee previously served as CEO of Lotte Chilsung Beverage from 2017 to 2020 and has been the CEO of Lotte Wellfood since 2021.


At the upcoming shareholders' meeting, Lotte Chilsung will also reappoint CEO Park Yoon-ki and CFO Song Hyo-jin as internal directors. Additionally, Park Chan-joo, CEO of DKSH Performance Materials Korea, and Kim In-sook, an accountant at Inseong Accounting Firm, will be appointed as new outside directors.

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)