President and CEO Lee Seok-hee of SK On will step down as CEO at the end of this month. SK On plans to shift from a dual-CEO system with Lee Seok-hee and Lee Yong-wook to a sole-CEO system under President Lee Yong-wook.
In a "chief executive officer (CEO) letter" sent to SK On employees on the 28th, Lee said, "I intend to conclude my duties as president of SK On at the end of May," expressing an intention to resign.
Lee said, "Since late last year, I have thought deeply about continuing to carry the heavy responsibilities as CEO, but I delayed the timing of my resignation to properly conclude key management issues, including the termination of the U.S. joint venture." This appears to reference the completion on the 21st of the restructuring of "BlueOval SK," the battery joint venture with Ford in the United States that SK On wrapped up, and the conversion of the Tennessee plant in the United States into a standalone entity.
Lee was appointed president of SK On in Dec. 2023. He previously worked at Intel and as a professor in the Department of Electrical and Electronic Engineering at the Korea Advanced Institute of Science and Technology (KAIST), and served as head of DRAM development and chief operating officer (COO) at SK hynix.
In Oct. last year, SK On appointed former SK Siltron CEO Lee Yong-wook, who has expertise in materials and manufacturing, as president and built a two-CEO system with CEO Lee Seok-hee, but with Lee's resignation, the structure is expected to be reorganized around President Lee Yong-wook.