Lotte Mart gets Kang Sung-hyun as CEO

He became the CEO of Lotte’s drugstore chain in 2012.

Lotte Shopping has appointed Kang Sung-hyun, CEO of Lotte Nestle Korea, as the chief executive officer (CEO) of its hypermarket chain, Lotte Mart, IGD reported.

Kang gained retail experience at strategy consultancy firms Booz Allen Hamilton and Boston Consulting Group, and joined Lotte as executive director of the Lotte Strategy & Insight Centre in 2009.

He became the CEO of LOHB’s, Lotte’s drugstore chain in 2012, and has since been CEO of Lotte Nestle, in charge of manufacturing and distribution of coffee products, pet foods and other industrial raw material concerning coffee products.

Kang’s appointment is part of the group’s 2020 year-end reshuffle, which involves 53 positions. The group said it is to reduce the number of senior executives to make space for the younger generation.

It is estimated that around 20% of the 600 senior executives will be leaving the company after this reshuffle.