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CJ Group’s No. 2 Lee Mie-kyung will take a back seat when the conglomerate carries out executive reshuffles next month, sources said Wednesday.
The sources said Lee Mie-kyung, an elder sister of group chief Lee Jay-hyun, would reduce her involvement in management for medical treatment.
The 56-year-old vice chairwoman has been in Los Angeles to receive treatment for Charcot-Marie-Tooth disease, a neurological disorder that runs in her family.
The disease is characterized by progressive muscle weakness, particularly in the arms and legs. Group chairman Lee Jay-hyun suffers from the same illness.
“The vice chairwoman travels regularly back and forth for treatment. Her role at the top of management may be reduced, but she will not step down from her post,” group spokesman Lee Young-pyo said.
The vice chairwoman has virtually led the media and food service conglomerate since her brother was put behind bars for embezzlement in 2013.
To minimize the leadership vacuum, the group is expected to expand the role of its four-member governing committee, according to group officials.
It is against this backdrop that CJ Group vice chairman Lee Chae-wook, who is also a committee member, is rising as a strong candidate to succeed the vice chairwoman.
Despite the group’s citation of health reasons, however, speculation has it that Lee’s mother and group adviser Sohn Bok-nam pressured her daughter to quit, criticizing her performance and personnel decisions.
Noh Hee-young, a group adviser and key confidante of the vice chairwoman, stepped down in September after being convicted of tax evasion and embezzlement. Most other outside consultants appointed by Lee left the company last year.
“The big picture is clear now. CJ is relying on vice chairman Lee Chae-wook after chairman Lee was sentenced to three years in prison last year,” said a KDB Daewoo Securities analyst who wished to be identified only by her surname Kim.
“The group knows they need a management specialist at this point, and naturally, Lee Mie-kyung has been losing ground.”
By Suk Gee-hyun (monicasuk@heraldcorp.com)
The sources said Lee Mie-kyung, an elder sister of group chief Lee Jay-hyun, would reduce her involvement in management for medical treatment.
The 56-year-old vice chairwoman has been in Los Angeles to receive treatment for Charcot-Marie-Tooth disease, a neurological disorder that runs in her family.
The disease is characterized by progressive muscle weakness, particularly in the arms and legs. Group chairman Lee Jay-hyun suffers from the same illness.
“The vice chairwoman travels regularly back and forth for treatment. Her role at the top of management may be reduced, but she will not step down from her post,” group spokesman Lee Young-pyo said.
The vice chairwoman has virtually led the media and food service conglomerate since her brother was put behind bars for embezzlement in 2013.
To minimize the leadership vacuum, the group is expected to expand the role of its four-member governing committee, according to group officials.
It is against this backdrop that CJ Group vice chairman Lee Chae-wook, who is also a committee member, is rising as a strong candidate to succeed the vice chairwoman.
Despite the group’s citation of health reasons, however, speculation has it that Lee’s mother and group adviser Sohn Bok-nam pressured her daughter to quit, criticizing her performance and personnel decisions.
Noh Hee-young, a group adviser and key confidante of the vice chairwoman, stepped down in September after being convicted of tax evasion and embezzlement. Most other outside consultants appointed by Lee left the company last year.
“The big picture is clear now. CJ is relying on vice chairman Lee Chae-wook after chairman Lee was sentenced to three years in prison last year,” said a KDB Daewoo Securities analyst who wished to be identified only by her surname Kim.
“The group knows they need a management specialist at this point, and naturally, Lee Mie-kyung has been losing ground.”
By Suk Gee-hyun (monicasuk@heraldcorp.com)
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