Korean Herald, citing industry sources, reported that South Korean steel giant POSCO’s year-end executive reshuffle is expected to be delayed to next year, possibly later in January, amid the still ongoing efforts to normalize its typhoon-hit steel mills. The report quoted an official as saying that "We are planning to conduct CEO-level personnel appointments in January after the restoration processes are largely wrapped up. The exact timing is not known, but it is likely it will be held mid-January. Considering the recovery work is speeding up to be completed by the end of January, the group’s executive reshuffle is very likely to be carried out around that time.” However, POSCO’s affiliated companies have announced leadership changes on 26 December. POSCO Group President Mr Jeong Tak was named the first CEO of the merged unit between trading unit POSCO International and LNG plant operator POSCO Energy, which will be newly launched as POSCO International on 2 January. In August, POSCO boards approved the merger of the two units with aims to establish a complete value chain for the LNG business. During the reshuffle, Mr Kim Jun-hyung was appointed as the new president of POSCO Chemical. Previously a CEO of SNNC, a nickel-supplying affiliate of POSCO, Mr Kim is known to have taken SNNC's nickel business to the next level by producing high-purity nickel for high-volume secondary batteries. Mr Jeong Ki-seop, the current president of POSCO Energy, was moved to the head position of the management strategy team at POSCO Holdings, with company's expectation that with his previous experience serving as the CEO of POSCO Energy and head of management planning at POSCO International, he would be well-suited to manage future crises as an experienced financial expert. Mr Kim Hag-dong, vice chairman of POSCO, retained his position in office. POSCO said the decision follows Mr Kim's quick normalization of operations at POSCO's steel mills, as typhoon Hinnamnor skirted the company's Pohang plants in September with storms and heavy rains causing a power outage at key facilities inside the plant. POSCO Engineering & Construction CEO Mr Han Sung-hee, POSCO ICT CEO Mr Jung Duk-kyoon, and POSCO Flow CEO Mr Kim Kwang-soo also retained their positions in office, in recognition of their stable operation of business under difficult conditions.
Korean Herald, citing industry sources, reported that South Korean steel giant POSCO’s year-end executive reshuffle is expected to be delayed to next year, possibly later in January, amid the still ongoing efforts to normalize its typhoon-hit steel mills. The report quoted an official as saying that "We are planning to conduct CEO-level personnel appointments in January after the restoration processes are largely wrapped up. The exact timing is not known, but it is likely it will be held mid-January. Considering the recovery work is speeding up to be completed by the end of January, the group’s executive reshuffle is very likely to be carried out around that time.” However, POSCO’s affiliated companies have announced leadership changes on 26 December. POSCO Group President Mr Jeong Tak was named the first CEO of the merged unit between trading unit POSCO International and LNG plant operator POSCO Energy, which will be newly launched as POSCO International on 2 January. In August, POSCO boards approved the merger of the two units with aims to establish a complete value chain for the LNG business. During the reshuffle, Mr Kim Jun-hyung was appointed as the new president of POSCO Chemical. Previously a CEO of SNNC, a nickel-supplying affiliate of POSCO, Mr Kim is known to have taken SNNC's nickel business to the next level by producing high-purity nickel for high-volume secondary batteries. Mr Jeong Ki-seop, the current president of POSCO Energy, was moved to the head position of the management strategy team at POSCO Holdings, with company's expectation that with his previous experience serving as the CEO of POSCO Energy and head of management planning at POSCO International, he would be well-suited to manage future crises as an experienced financial expert. Mr Kim Hag-dong, vice chairman of POSCO, retained his position in office. POSCO said the decision follows Mr Kim's quick normalization of operations at POSCO's steel mills, as typhoon Hinnamnor skirted the company's Pohang plants in September with storms and heavy rains causing a power outage at key facilities inside the plant. POSCO Engineering & Construction CEO Mr Han Sung-hee, POSCO ICT CEO Mr Jung Duk-kyoon, and POSCO Flow CEO Mr Kim Kwang-soo also retained their positions in office, in recognition of their stable operation of business under difficult conditions.
