Shin Dong-bin, chairman of LOTTE Group, will step down from the board of LOTTE Chilsung Beverage.
According to the Financial Supervisory Service's electronic disclosure system on the 6th, LOTTE Chilsung Beverage will not address the reappointment of Chairman Shin as an inside director at the upcoming regular shareholders' meeting on the 25th.
Chairman Shin returned as an inside director of LOTTE Chilsung Beverage after three years for responsible management in 2023. His term lasts until the 22nd.
The position vacated by Chairman Shin will be taken over by Lee Young-koo, the general representative of the food division of LOTTE Group. LOTTE Chilsung Beverage will present a resolution to appoint this general representative as an inside director at the shareholders' meeting.
Lee has served as the CEO of LOTTE Chilsung Beverage from 2017 to 2020. He is currently the CEO of LOTTE Wellfood.
At this shareholders' meeting, LOTTE Chilsung Beverage is also expected to reappoint CEO Park Yoon-ki and Song Hyo-jin, head of the finance division, as inside directors.
For outside directors, accountant Kim In-sook, formerly of the Financial Supervisory Service, and Park Chan-joo, representative of DKSH Performance Materials Korea and formerly of CJ CheilJedang's food division, will be newly appointed.