Kwak Jung-woo, chief executive officer of Maeil Dairies, has stepped down from his post about a year and six months after taking office. As a result, Maeil Dairies will end the three-CEO system it established last year and operate under a two-CEO system centered on Vice Chairman Kim Sun-hee and CEO Lee In-ki.
According to a Financial Supervisory Service (FSS) filing Monday, Maeil Dairies disclosed the resignation of Kwak as chief executive officer. The company explained the reason for his resignation as "personal reasons," and said no decision had been made on whether to appoint a successor.
The move reshuffles Maeil Dairies' management structure once again. In January last year, the company established a three-CEO system by appointing Lee In-ki, head of operations, and Kwak Jung-woo, head of business, as chief executives to strengthen expertise in business and operations under Vice Chairman Kim Sun-hee. With Kwak's resignation, the company will now be led by Vice Chairman Kim Sun-hee and CEO Lee In-ki.
Born in 1972, Kwak entered the distribution industry in 1999 when he took charge of the fresh food business at CJ CheilJedang. He later handled the operation of Peacock and Deli F&B and the grocery products division at E-mart, and oversaw business operations at SSG.com. He went on to build a career in merchandising and distribution, serving as head of E-mart's merchandising division in 2021 and head of Shinsegae Food's food distribution division in 2022.
Kwak later joined Maeil Dairies as chief commerce officer (CCO). Appointed CEO in January last year, he had overseen overall business operations, including business strategy formulation and execution, sales expansion, and profitability improvement.
Vice Chairman Kim Sun-hee is in charge of future growth strategy, overseas business, and organizational innovation, while CEO Lee In-ki is an operations expert who joined Maeil Dairies in 1996 and served as marketing team leader for Sangha Farm, business division head, and planning office head. Maeil Dairies plans to continue its management under the two-CEO system for the time being.
