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SK Group, the nation’s third-largest conglomerate, said Wednesday that SK Innovation CEO Chung Chul-khil and SK Corp. CEO Kim Young-tae have been promoted to vice chairman positions.
The promotion was conducted in the group’s annual personnel reshuffle of top management of its affiliates.
Group officials said the CEO of SK Innovation, the holding company of the group’s energy businesses, got a promotion based on his performance to make the firm profitable within a year.
Under his leadership, the energy giant, which posted an operating loss last year for the time in 37 years, is expected to swing back to profit this year thanks to business improvements of its affiliate SK Energy, the nation’s top oil refinery.
Kim Young-tae, CEO of SK Corp., the group’s holding company, took vice chairmanship as he performed well as the head of communications at the SK Supex Council, the conglomerate’s top decision-making body.
Another highlight in the 2015 executive promotions at SK is the first CEO in his 40s. The group appointed Song Jin-hwa, 44, senior managing director at SK Innovation, to CEO of SK Trading International, an oil brokerage agency.
Beating market expectations, the industrial group chose stability in the organization rather than drastic changes by keeping the current CEOs at key affiliates, including SK Innovation, SK Telecom and SK hynix.
Kim Chang-geun, who has led the SK SUPEX Council as chairman since 2013, will also retain his post next year.
By Seo Jee-yeon (jyseo@heraldcorp.com)
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