2023-11-02 10:10:17
Greetings from BGF top management
Expanding influence in the distribution sector
Min Seung-bae, CEO of BGF Retail
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Hong Jeong-guk, BGF CEO and Vice Chairman and BGF Retail Vice Chairman. Photo provided by BGF Group
Hong Seok-jo BGF(027410) financial analysischart areaView DetailsPresident Hong Jeong-guk, the eldest son of the group chairman, also serves as BGF CEO and vice chairman. BGF Retail (282330) financial analysischart areaView Details Promoted to vice president. The purpose is to strengthen responsible management of key affiliates along with a generational change in management. The new CEO of BGF Retail will be Min Seung-bae, head of the sales development division. BGF Group will soon confirm other executive appointments.
BGF Group held a board meeting on the 2nd and made top management personnel changes. New Vice Chairman Hong joined BGF Group in 2013 and served as head of the strategic planning division and head of the management strategy division. Since 2019, he has served as CEO and President of BGF, a holding company, discovering new growth foundations for the overall group and leading convenience store CU’s overseas expansion.
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Seungbae Min, the new CEO of BGF Retail. Photo provided by BGF Group
The new CEO, Min, is a convenience store expert who has sold only one well for 28 years since joining the company in 1995. He held major positions including project development team leader, communications director, human resources general affairs director, and sales development division director. His field experience and expertise in the convenience store business are considered his strengths. His company’s assessment is that he has friendly leadership, remembering the tendencies and characteristics of each employee. It is reported that CEO Min will actively pursue store differentiation and entry into emerging overseas markets. Former CEO Kun-Jun Lee, who has led CU since 2019, will step down as an advisor and take on the role of advising on overall management.
As Chairman Hong’s eldest son expands his influence in the distribution sector, the second-generation management system is further strengthened. The second son, Hong Jeong-hyuk, is the president and CEO of BGF. BGF Eco Materials (126600) financial analysischart areaView Details The CEO is in charge of the new materials division. However, a group official said, “As a holding company, BGF takes on the overall role of fostering and discovering new growth engines,” and added, “(Business areas) cannot be divided like cutting with a knife.”
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