l Industrial Gas & Hydrogen Business Division and Logistics Business Division installed under the Direct Control of CEO
l The LiB Materials Business Office expanded to power new growth engines
l Hak-Dong Kim promoted to Head of Steel Business Unit
l Increase in female executives with the first female president appointed in a group company
– Yu-Kyung Lee, Head of Plant, Equipment, and Materials Procurement Office, assigned as the President of eNtoB
– Senior Vice President Ji-Eun Oh appointed as Research Fellow at Technical Research Laboratories
l To eliminate hierarchy and spread a horizontal corporate culture, all executives to be named by job title rather than job level
On December 21, POSCO carried out organizational reform and its annual executive reshuffle.
POSCO has reinforced organizations and personnel of new growth engines at the group level in order to proceed with “Innovation and Growth,” the management direction of CEO Jeong-Woo Choi’s second term.
POSCO also installed the Industrial Gas & Hydrogen Business Division and the Logistics Business Division directly under the CEO. The Senior Executive Vice President Byeong-Og Yoo was appointed as Head of Industrial Gas & Hydrogen Business Division and POSCO-America President Kwang-Soo Kim was named as Head of Logistics Business Division. Five executive unit offices were newly established under the two divisions, and numerous outstanding personnel within the group were dispatched here.
The company also reorganized POSCO Chemical’s Energy Materials HQ, which is currently carrying out the secondary battery material business for cathode materials and anode materials, into the Energy Materials Business Division and expanded the organization and personnel. Director Dae-Heon Jeong of POSCO Chemical’s Anode Materials Office, who has been successfully leading the business, was promoted to Head of the division. Executives and other outstanding personnel from POSCO and POSCO INTERNATIONAL were also placed in the strategy and marketing departments newly established under the division.
In-Hwa Chang, Head of Steel Business Unit, stepped down as Senior Corporate Advisor and Hak-Dong Kim was appointed as the Head, along with promotion to President.
Si-Woo Lee, Head of Gwangyang Works, was announced as Head of Steel Production & Technology Division, while Ju-Tae Lee, Head of Corporate Strategy Office, was promoted to Head of Purchasing and Investment Division. President of PT Krakatau POSCO, Ji-Yong Kim, was assigned to be Head of Gwangyang Works.
The newly appointed personnel, who have led the rebound in earnings despite harsh business conditions this year, are expected to lead innovation and strengthen the competitiveness on site under the second tenure of POSCO CEO Jeong-Woo Choi.
Other Heads of divisions retained their positions, including Jung-son Chon, Head of Global Infrastructure Division, Tak Jeong, Head of Marketing Division, and Chang-Hwa Chung, Head of Management Support Division.
POSCO also announced new female executives. Yu-Kyung Lee, evaluated to be the person who led the company’s growth activities, was promoted to President of eNtoB and named the first female president of the POSCO group companies. Vice President Ji-Eun Oh was appointed as Research Fellow at Technical Research Laboratories. Presidents of many group companies, including POSCO ICT, POSCO M-TECH, POSCO CAPITAL, and POSCO TERMINAL, resigned and went through generational shifts.
To overcome the stagnant phase of low growth in the steel business and secure competitiveness, POSCO set up “Creative Innovation TF”. The task force is to promote innovative activities by inspecting all tasks at zero base and devising fundamental improvements.
Also, POSCO, the first global steelmaker to launch a dedicated ESG organization, plans to establish the “Low-carbon Technologies Research Group” to attain Net-Zero by 2050 and lead the era of carbon neutrality.
Meanwhile, POSCO has decided to adopt naming all executives by job title rather than job level to eliminate hierarchy and spread a horizontal corporate culture. Accordingly, the executives will be addressed in job titles, such as Head of Office and Head of Division, instead of Vice President and Executive Director.