Samsung C&T names former GE exec to board

Philippe Cochet

Samsung’s construction and trading arm Samsung C&T has nominated Philippe Cochet, former chief productivity officer of General Electric, to its board of directors in an attempt to enhance expertise and diversity.

Cochet will be the first non-Korean to sit on Samsung C&T’s board once his appointment is approved at a shareholders’ meeting this month. It is likely the meeting will take place on March 22, according to a company spokesperson. His term will last for three years.

Chief productivity officers make sure companies meet their target productivity or bottom line goals. Samsung C&T said the French-born executive will be able to offer advice on improving the company’s corporate governance structure as well as improving the competitiveness of its core businesses like construction.

The appointment follows Samsung Electronics’ decision last week to include Korean-American entrepreneur Jeong Kim, co-founder and executive chairman of Kiswe Mobile, on its board. In a bid to increase diversity, the electronics giant also named Kim Sun-uk, former President of Ewha Womans University, as an outside director.

Samsung C&T said it will continue adding more professional managers from global companies, as well as female executives, to its board.

On Wednesday the construction company also confirmed that Samsung C&T President and CEO Choi Chi-hun will be reappointed as chair of the board. As soon as his new term begins he will leave the role of CEO, likely handing it over to Lee Young-ho, currently the president of the company’s engineering and construction division.

Koh Jung-suk, president of Samsung C&T’s trading and investment division, and Chung Keum-yong, who heads the company’s resort business, were also newly named as internal directors.

BY KIM JEE-HEE [kim.jeehee@joongang.co.kr]