Hur Jin-soo, vice chairman of Paris Croissant and the eldest son of Sangmidang Holdings Chairman Hur Young-in, was named the new CEO of the holding company Sangmidang Holdings on Tuesday. Hur is a third-generation member of the founding family. With the appointment, Sangmidang Holdings plans to strengthen its role as a holding company, including identifying future new businesses, managing its investment portfolio, establishing global strategy, and enhancing research and development (R&D) functions.
Sangmidang Holdings will also launch the "Sangmidang Council," a consultative body comprising the CEOs of major affiliates, on the first of next month. The Sangmidang Council will discuss common management challenges affecting affiliates across the group and how to respond to changes in the external environment. It will be composed of the CEOs of major affiliates including Paris Croissant, BR Korea, and Samlip, with Paris Croissant President Doh Se-ho serving as its inaugural chairman.
The "Change and Innovation Task Force," which has previously operated with internal and external members, will be reorganized into a system centered on external experts to enhance independence and expertise. The task force will perform objective review and advisory functions on major agenda items discussed at the Sangmidang Council.
"We created the council to discuss the common management issues of affiliates more systematically and to strengthen synergy among the companies," said Doh Se-ho, chairman of the Sangmidang Council. "Through the council, we will systematize a responsible management system centered on each company's CEO and strengthen management transparency."
