Shinsegae Department Store shakes up senior management

Industry

Published: 01 Dec. 2020, 16:20

Shinsegae Department Store shakes up senior management

New Shinsegae Duty Free CEO Ryu Sin-yul. [SHINSEGAE GROUP]

Shinsegae Department Store reduced its number of executives by 5 percent while replacing 70 percent of its senior management as part of its annual personnel reshuffle.

The company on Tuesday named Ryu Sin-yul, executive vice president at Shinsegae Department Store, as the new CEO of Shinsegae Duty Free, replacing Son Young-sik.

Ryu graduated from Sogang University with a degree in political science. He started working for Shinsegae Department Store in 1989 and held positions in sales, strategy planning and business management.

New Signite Partners CEO Moon Sung-wook. [SHINSEGAE GROUP]

Moon Sung-wook was named CEO of newly established corporate venture capital firm Signite Partners. He will also maintain his role as CEO of apparel manufacturer Shinsegae Tomboy.

Moon graduated from the Wharton School of the University of Pennsylvania. He previously worked at Japanese multinational conglomerate SoftBank before he started working for Shinsegae Group in 2004. He looked over overseas business at Emart and strategic planning at Shinsegae I&C, an IT service provider, before he was named to the new role on Tuesday.

CFO Chung Eui-chul of Shinsegae Simon, which operates outlet stores, was promoted from managing director to senior managing director.

BY JIN MIN-JI [jin.minji@joongang.co.kr]