■ Choo Hyeong-wook, President of SK E&S, appointed as new CEO
■ Jang Yong-ho, CEO of SK Inc., appointed as Executive President
■ Appointments approved by SK Innovation’s Board of Directors on May 28
■ To focus on organizational stability and accelerate execution of business strategies
SK Innovation has appointed Choo Hyeong-wook, President of SK E&S, as its new CEO. Additionally, Jang Yong-ho, CEO of SK Inc., has been appointed as the new Executive President.
The appointments were approved during a board meeting held by SK Innovation on May 28. This decision follows the resignation of Park Sang-kyu, the former President & CEO of SK Innovation, due to health reasons, after his efforts in developing and implementing a portfolio rebalancing strategy.
SK Innovation stated, “To ensure swift organizational stabilization and unwavering execution of business strategies, the board has decided to appoint current board members as CEO and Executive President.” Choo has been serving his role as an executive director, while Jang is a non-executive director of SK Innovation.
Together, CEO Choo and Executive President Jang aim to accelerate synergies between SK Innovation and E&S, following their merger in November last year. Furthermore, they plan to continue driving rebalancing and operational improvements to enhance the turnaround of subsidiary SK On and improve performance in energy and chemical sectors.
Since his appointment as President & CEO of SK E&S in 2021, Choo has focused on growth strategies based on four key business areas: low-carbon LNG, renewable energy, energy solutions, and hydrogen.
Following the merger of SK Innovation and SK E&S last year, Choo has served as both the President of SK Innovation E&S and the head of the Synergy Promotion Division, leading efforts to strengthen business competitiveness by integrating the capabilities of both companies.
Executive President Jang is known as a strategist who has led growth strategies in the semiconductor and semiconductor materials sectors within the SK Group, demonstrating expertise in investment and mergers and acquisitions (M&A).
In 2015, while serving as the Head of Portfolio Management Division at SK Holdings Co (now SK Inc.), Jang led the acquisitions of SK Materials, a semiconductor specialty gas manufacturer, and SK Siltron, a semiconductor wafer producer, enhancing corporate value through active participation in their management. Jang will concurrently hold his roles as CEO of SK Inc. and Executive President of SK Innovation.
Meanwhile, although Park is stepping down as CEO of SK Innovation, he will continue to contribute to SK Group’s talent development in his roles as Chairman of the Talent Development Committee at SK SUPEX Council and President of mySUNI, the in-house educational platform of SK Group. Additionally, he will focus on securing business opportunities in Japan as SK Innovation’s Japan Representative.
[Photos]
(Photo 1) Choo Hyeong-wook, the newly appointed CEO of SK Innovation
(Photo 2) Jang Yong-ho, the newly appointed Executive President of SK Innovation
