Ex McDonald’s Korea CEO to take leading role in Homeplus
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South Korean supermarket chain Homeplus has appointed former CEO of McDonald’s Korea Cho Ju-yeon as its new chief marketing officer, in an executive reshuffle announced on Thursday.
Cho made headlines in 2016 when she became the first female CEO at the South Korean unit of the fast-food restaurant.
Hwang Jeong-wook, who formerly served as the chief financial officer at the Korean unit of AstraZeneca, will become the new chief financial officer at Homeplus.
The move comes as the company seeks to strengthen professionalism and product sourcing capabilities by hiring new executives externally and separating the department in charge of products into two, the supermarket chain said.
One team, led by the company‘s executive Kim Woong, will focus on fresh food, bakeries, home appliances and product support and safety. The other team, which will be led by newly appointed executive Oh Jae-yong, will focus on groceries, private label products and fashion and interior design products.
The decision follows the appointment of current CEO Lee Jea-hoon earlier this year.
“Through the reorganization, we want to present a clear reason why customers want to visit Homeplus,” Lee said in a statement.
Questions & Answers
Q.Why has Homeplus decided to undergo an executive reshuffle?
Why has Homeplus decided to undergo an executive reshuffle?
Homeplus aims to enhance professionalism and improve its product sourcing capabilities. The company is hiring external executives and splitting its product department into two specialised teams to achieve these goals.
Q.What is the new structure of Homeplus's product department?
What is the new structure of Homeplus's product department?
The product department is now divided into two teams. One will focus on fresh food, bakeries, home appliances, and product safety, led by Kim Woong. The other, led by Oh Jae-yong, will handle groceries, private labels, fashion, and interior design.
Q.What is the main objective of this reorganisation, according to the CEO?
What is the main objective of this reorganisation, according to the CEO?
CEO Lee Jea-hoon stated that the reorganisation aims to provide customers with a clear reason to choose Homeplus. This suggests a focus on improving the customer experience and value proposition.
Q.Who are the key external hires in this executive reshuffle?
Who are the key external hires in this executive reshuffle?
Cho Ju-yeon, formerly CEO of McDonald’s Korea, has been appointed Chief Marketing Officer. Hwang Jeong-wook, previously CFO at AstraZeneca Korea, will become the new Chief Financial Officer at Homeplus.
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