Yoon Yeo-won, CEO of Kolmar BNH, a subsidiary in charge of the health functional food original design manufacturing (ODM) business within Kolmar Group, has submitted a resignation letter.
According to the Financial Supervisory Service's electronic disclosure system on the 16th, Kolmar BNH disclosed that Yoon submitted a resignation letter the previous day. As a result, Kolmar BNH will shift to a sole-CEO system under Lee Seung-hwa. However, while Yoon will step down from the CEO post, the person will remain an inside director on the board.
Earlier, within Kolmar Group, the so-called sibling conflict surfaced in May last year when Vice Chairman Yoon Sang-hyun of Kolmar Holdings, a child of founder Chairman Yoon Dong-han, and CEO Yoon Yeo-won engaged in a legal dispute over control of Kolmar BNH. Afterward, when Vice Chairman Yoon recommended CEO Lee Seung-hwa, Kolmar BNH's management structure was reorganized into a three-person, individually responsible co-CEO system.
The largest shareholder of Kolmar BNH is holding company Kolmar Holdings, with 44.63% equity. In Kolmar Holdings' equity, Vice Chairman Yoon Sang-hyun holds the most at 31.75%, followed by CEO Yoon Yeo-won with 7.60% and Chairman Yoon Dong-han with 5.59%.
In the industry, Yoon's stepping back from the front line of Kolmar BNH's management is seen as having passed a turning point in the siblings' conflict for now. However, the stock return claim lawsuit that Chairman Yoon filed against Vice Chairman Yoon is still ongoing.