On the 26th, LOTTE Group held board meetings at 36 affiliates, including LOTTE Corporation, and carried out its regular executive reshuffle for 2026. It signaled a hard reset by replacing 20 chief executive officers (CEOs) at major affiliates in retail and construction. The main directions are ▲ organizational changes centered on stronger execution ▲ active placement of younger leadership through a generational shift ▲ appointment of core talent based on performance and ability.
A LOTTE official said the company focused on a personnel overhaul that can spread governance reforms to engineer a turnaround in an emergency management situation and continuous innovation to restore competitiveness in core businesses.
◇Vice chairman group steps down, 20 CEOs replaced at major retail and construction affiliates
In this reshuffle, LOTTE replaced 20 CEOs, amounting to one-third of all CEOs. Vice Chair Lee Dong-woo (65), representative director of LOTTE Corporation; Vice Chair Lee Yeong-gu (63), head of the food HQ; Vice Chair Kim Sang-hyun (58), head of the retail HQ; and Vice Chair Park Hyeon-cheol (65), representative director of LOTTE Engineering & Construction, will all step down from front-line posts.
Two people were promoted to president. Park Doo-hwan (59), head of the HR Innovation Office who led HR reforms, was promoted to president. Park joined LOTTE Group's Corporate Planning Office in 1992 and served as head of planning and head of sales and marketing at LOTTE Card, before leading the HR Innovation Office at LOTTE Corporation since 2022 to push innovation across the group's HR.
Chief Executive Cha Woo-cheol (57), who has led LOTTE GRS, was also promoted to president and nominated as representative director of LOTTE Mart and LOTTE Super. Cha joined LOTTE Confectionery in 1992 and served in the LOTTE Policy Headquarters Improvement Office and as head of Management Improvement Team 1 at LOTTE Corporation. Since 2021, Cha has served as representative director of LOTTE GRS. During Cha's tenure at LOTTE GRS, Cha was credited with improving the profitability of existing businesses, strengthening competitiveness in new businesses, and expanding global operations.
A large number of new CEOs were appointed in key business groups such as retail, construction, and chemicals. At LOTTE Department Store, Jeong Hyeon-seok (50), head of the outlet business division, was tapped and promoted to executive vice president and nominated as representative director. Born in 1975, Jeong becomes the youngest representative director in LOTTE Department Store's history. Jeong joined LOTTE Department Store in 2000 and served as head of the Jung-dong branch and as head of LOTTE Mall Dongbusan. From 2020 to 2024, Jeong served as representative director of FRL Korea.
At LOTTE Wellfood, Executive Vice President Seo Jeong-ho (56), head of the Innovation Task Force, was nominated as representative director. Seo took office in July this year as head of the Innovation Task Force and has led a management diagnosis and the business transformation of LOTTE Wellfood. Going forward, Seo will continue to strengthen competitiveness of existing brands while pursuing long-term revenue improvement and discovering new businesses for future growth.
At LOTTE Engineering & Construction, Executive Vice President Oh Il-keun (57), recognized for expertise in real estate development and ability to advance the business portfolio, was nominated as representative director. Oh is viewed as the right person to swiftly restore the financial soundness of LOTTE Engineering & Construction, which was weakened by the project financing crisis.
At LOTTE e-Commerce, Executive Director Chu Dae-sik (53), who drove restructuring of the e-commerce division and set a turnaround strategy based on experience in both online and offline retail, was promoted and appointed as chief executive.
The role of Vice President Shin Yoo-yeol (39), head of the Future Growth Office at LOTTE Corporation and the eldest son of LOTTE Group Chairman Shin Dong-bin, has expanded. Shin will serve as co-representative with Park James, the head of LOTTE Biologics, jointly leading the bio business, one of the group's key new ventures. Shin will also take a key role in a newly established strategy control organization at LOTTE Corporation, leading business innovation and a shift in the group-wide business portfolio.
◇Strengthening the principles of "job-based HR"… generational shift and expansion of female talent
LOTTE consistently applied its job-centered HR philosophy in this reshuffle. In particular, talent with proven performance and expertise was boldly appointed regardless of age or years of service.
Born in 1960 and a Korea master chef, Kim Song-gi (65), head of Culinary R&D at LOTTE Hotel, was promoted to senior managing director in recognition of successfully overseeing the APEC summit dinner.
Younger leadership was also actively placed. In this regular reshuffle, the number of new executives was 81, up 30% from a year earlier. The number of special promotions also increased. Hwang Hyeong-seo, head of marketing at LOTTE e-Commerce; Oh Hyeon-sik, head of AI Tech Lab at LOTTE Innovate; Kim Song-ho, head of the PE team in the basic materials business at LOTTE Chemical; and Baek Ji-yeon, head of investment strategy at LOTTE Property & Development, were all specially promoted to new executive posts in recognition of their job expertise, regardless of time-in-rank.
The principle of appointing female talent was also maintained. Four female executives were promoted, and eight new female executives were appointed, accounting for 10% of all new executives. Jo Hyeong-ju (50), head of the luxury division at LOTTE Department Store; Sim Mi-hyang (50), head of business innovation in the basic materials business at LOTTE Chemical; Son Yu-gyeong (53), head of development at LOTTE Property & Development; and Oh Gyeong-mi (50), head of DT at LOTTE Members, were promoted to senior managing director.
At the end of last year, LOTTE Group reduced the total number of executives by 13% from a year earlier and replaced 21 CEOs, or 36% of the total, in a sweeping reshuffle. A LOTTE official said the company plans to maintain its principles of performance-based as-needed executive appointments and external talent recruitment to enhance rapid change management and execution amid an uncertain business environment.