Shared office corporations FastFive said on the 21st that it has named former Office Sales Group head Shin Jeong-woo as co-CEO and will shift from the existing sole-CEO system under Kim Dae-il to a co-CEO system.
After working at LG H&H, Shin joined FastFive and has handled key functions including HR management, branch operations and sales. Based on a deep understanding of the organization and the business front lines, Shin will upgrade the service framework, innovate operating processes and raise the company's fundamental business competitiveness.
Kim, who has led the existing business, will focus on establishing the company's mid- to long-term vision and securing new growth drivers. Kim plans to create synergies among each institutional sector and focus on seeking new business opportunities that will become future revenue sources.
FastFive started with the shared office business and has expanded its business areas to lounge memberships, headquarters build-out solutions, office interiors, IT consulting and architecture. As its business structure has grown more complex and the size of the corporations has increased, a management system was needed to maximize expertise in each field. In preparation for the upcoming initial public offering (IPO) process, FastFive plans to further refine its internal control system and strengthen accountable management.
Shin is expected to be formally appointed CEO in September after a shareholders meeting and a board meeting. They said, "Through the co-CEO system, we will further strengthen management expertise and execution capability, build a management base that supports continued growth, and solidify our leadership as a key operator leading change in the office market."