Hanwha reshuffles CEOs of key affiliates

Kim Hee-cheul

Hanwha Group appointed new executives at three of its affiliates - Hanwa Q Cells, Hanwha Total Petrochemicals and Hanwha Land Systems - on Friday.

Kim Hee-cheul, formerly a chief executive at Hanwha Total, was appointed as the new chief executive of Hanwha Q Cells, replacing former chief Nam Seong-woo.

Nam resigned recently due to health problem.

Kim previously led Hanwha SolarOne’s Chinese unit and Hanwha Q Cell’s German unit during the group’s initial entrance into each market’s solar energy business. The company said that Kim is trusted to maintain Hanwha Q Cell’s top-notch competitiveness in the solar energy business.

Kwon Hyuck-woong was appointed as CEO of Hanwha Total, a petrochemical arm of Hanwha. Kwon is considered to be an expert in oil refining and the petrochemical business within the group based on his experience as CEO of Hanwha Energy since 2012.

Lee Sung-soo, the current CEO of Hanwha Defense Systems, a defense system making unit, is appointed as the new CEO of Hanwha Land Systems. Lee will keep his existing position at Hanwha Defense Systems and act as CEO of both companies.

Hanwha Land Systems is a weapon manufacturing affiliate of the company. The group credits Lee with raising the operating profit of Hanwha Defense Systems and stabilizing its financial structure. He was first promoted to CEO in 2017.

Hanwha said it expects Lee to create synergy by co-managing Hanwha Defense Systems and Hanwha Land Systems.

The reshuffle announced Friday is expected to be approved at each company’s board meeting in the near future.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]