SK Group announced Wednesday the new lineup of it top decision-making council, called Supex, and promoted young CEOs of its five affiliates, seeking a generational shift in management.

The nation’s third-largest conglomerate named Cho Dae-sik, CEO and president of SK Holdings, as the new chairman of the Supex Council. It also replaced the heads of five council committees on energy, internet and communications technology, communications, shared growth and human resources.

“To cope actively with the uncertain management environment in and out of the country and to discover new engines of growth, the group has decided to realign the role of the Supex Council and has drastically replaced the CEO posts with executives with expertise and management ability,” the group said in a statement.

Cho, 55, replaces Kim Chang-keun, 65, who led the council since 2013. He was elected as the Supex Council chairman unanimously by the council members, the group added. 

As the president of SK Holdings, the holding company of SK Group, Cho has played a central role in exploring new businesses, such as pharmaceutical development and base materials for semiconductors, which the group views as catalysts for raising the business reputation of related affiliates. Cho will also serve as the head of Supex strategy committee to accelerate the group’s growth and promote synergies between related affiliates, the group said.

The group also replaced two presidents at its key affiliates and promoted five young executives to CEO positions. Kim Joon, president of SK Energy, was named the new CEO of SK Innovation, the petrochemicals arm of the group, while Jang Dong-hyun, president of SK Telecom, was relocated to SK Holdings. SK C&C President Park Jung-ho replaces Jang.

The list of executives promoted to CEO this year includes SK Network President Park Sang-kyu, SK Shipping President Hwang Eui-kyun, SK Gas President Lee Jae-hoon and SK Planet President Suh Sung-won.

Jee Dong-seob, secretary-general of the Supex Council, was named the new CEO of SK Lubricant.

In recognition of their contributions to the group’s growth, SK Hynix President Park Sung-wook and SK E&C President Cho Ki-haeng were promoted to vice chairmen.

By Cho Chung-un (christory@heraldcorp.com)