Lotte to launch committee to improve its corporate culture

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Lotte to launch committee to improve its corporate culture

Lotte Group announced Tuesday its plans to launch a committee devoted to enhancing corporate culture as early as next week.

The retail group has been criticized for its murky corporate governance and top-down decision-making following the Lotte founding family’s dispute over control of the group. The members will consist of 20 figures that include both Lotte workers and outside figures.

At the helm of the committee are Vice Chairman Lee In-won and Lee Kyung-mook, a business management professor at Seoul National University.

The group said the inclusion of the outside head was made at the request of Chairman Shin Dong-bin as the chairman expects that non-Lotte people can give more objective, unbiased advice. Other members come from civic organizations and other companies.

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