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Photo = Yonhap news |
[Alpha Biz= Paul Lee] Seoul, June 9 – Theborn Korea announced that Baek Jong-won will now serve as the company’s sole Chief Executive Officer, transitioning from a co-CEO structure with Kang Seok-won. While Mr. Kang will step down from the CEO position, he will remain on the board as an inside director, according to a regulatory filing on June 9.
As of the end of 2023, Mr. Baek holds a 60.0% stake in Theborn Korea, making him the largest shareholder. Mr. Kang owns 14.2% of the company.
The company stated that the decision to adopt a single-CEO system was aimed at addressing delays in decision-making and ambiguity in responsibility that arose under the previous co-CEO arrangement.
Moving forward, Mr. Baek will lead all aspects of Theborn Korea’s operations. In addition to his role at Theborn Korea, he also serves as the Chairman of the Yechon Educational and Cultural Foundation, CEO of P&Holdings, and Chairman of the Yedeok Academy Foundation.
To enhance governance and operational efficiency, the company has established a new Strategic Planning Division reporting directly to the CEO. This division will spearhead efforts to integrate risk management, optimize business operations, and streamline corporate governance.
The Strategic Planning Division will also function as the company’s control tower, playing a key role in global market expansion and new business development, with the goal of transforming current challenges into growth opportunities.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
