Hugel on the 31st held the "25th annual general meeting of shareholders" at Sejong Hotel in Chuncheon, Gangwon, and newly appointed Global CEO Carrie Strom as an outside nonexecutive director.
Director Carrie Strom is an industry expert who formerly led Global Allergan Aesthetics. The company said it expects Strom to play a central role in refining its global business and boosting corporations value by joining the board.
Director Strom said, "I will do my utmost as a member of the board so that Hugel can secure a unique position in the global market."
Cha Suk-yong, Hugel chairman and board chair, who served as CEO of LG H&H for 18 years from 2005 to 2022 and joined Hugel in 2023, stepped down from the board after completing a three-year term.
Instead, the board decided to assign Cha an advisor role. A company official said, "We plan to hold a board meeting in early April to appoint the next chair."
At the shareholders meeting that day, all six agenda items were passed as originally proposed, including △ approval of the 2025 financial statements △ appointment of directors and audit committee members △ amendments to the articles of incorporation.
Hugel posted record results last year, with consolidated financial statements showing sales of 425.1 billion won, operating profit of 200.9 billion won, and net profit of 147.0 billion won.
It is also aiming to expand business areas to secure future growth engines. The company completed amendments to its articles of incorporation to add "human tissue distribution and import business" to its business purposes, laying a legal foundation for portfolio diversification.
It also raised governance transparency by updating related provisions to reflect the revised Commercial Act, including △ holding and disposing of treasury stock △ introduction of electronic shareholders meetings △ changing the title of outside director to "independent director." One independent director to serve on the audit committee was also newly appointed.
Hugel CEO Jang Doo-hyun said, "We will focus the company's full capabilities on maximizing corporations value and shareholder interests."