On 24th, HMM held a temporary board of directors’ meeting and appointed Vice President, Head of Group Strategic Planning & Development Lee Paik-Hoon as a new co-CEO, the company said in its press release.
HMM converted to the two-tops system with current CEO Lee Seock-Dong and newly appointed co-CEO Lee Paik-Hoon. CEO Lee Seock-Dong takes charge of the external activities, and new CEO Lee Paik-Hoon will be in charge of the business management and sales.
HMM officials said “in this unprecedented long term recessions in the maritime industry, we’ve focused on management recovery by implementing drastic self-help plans”, and added “we thought it’s time to make company-wide changes and innovations in order to secure its turnaround in an early stage. That’s why we turned into co-CEO system.”