Lotte Hotel appointed Lee Wan-shin, formerly CEO of Lotte Homeshopping, as its new CEO, citing Lee’s expertise in marketing and customer-oriented outlook in devising business strategies.
Lotte Engineering & Construction (E&C) CEO and president Park Hyun-chul was promoted to vice chairman. He was appointed Lotte E&C CEO last month. Park has a proven track record of risk management and corporate restructuring, according to Lotte Corporation.
The appointment came as the construction company struggles. The company, 43.79 percent owned by Lotte Chemical, is financially struggling due to a liquidity crunch stemming from the Legoland-related default.
The group sees biopharmaceuticals and materials as new growth engines since its mainstay supermarket and shopping mall businesses face a saturated market with numerous competitors online and offline.
Lotte Confectionery named Paul Yi as new CEO. Before assuming the top post at the confectionery manufacturer, Yi worked at LG Household & Health Care.
Shin Yoo-yeol, the eldest and only son of Lotte Chairman Shin Dong-bin, was promoted to Vice President at Lotte Chemical.
BY PARK EUN-JEE [park.eunjee@joongang.co.kr]
