Daesang Group announced on the 26th that Lim Se-ryeong, Executive Vice President, has been promoted to Vice Chairman of Daesang Holdings as a senior executive in charge of strategy. Daesang Group also appointed Vice Chairman Lim as the executive director of Daesang Holdings at the shareholders’ meeting on the same day. Vice-Chairman Lim was promoted to vice-chairman in the previous work.
Vice Chairman Lim Se-ryeong was the granddaughter of the late founder, Chairman Lee Yong-hong, who majored in business administration at Yonsei University and psychology at New York University. In December 2012, he took over the position of creative director at Daesang, overseeing brand management, planning, marketing, and design in the food sector.After being promoted to managing director in 2016, he is in charge of target marketing.
Vice Chairman Lim led the large-scale reorganization of the Chungjungwon brand in 2014, and led the launch of the HMR brand Anjuya in 2016, leading to results. In 2017, it was the first Korean food company to launch an online specialty brand, ON.
An official from Daesang Group said, “As a strategic executive and executive director of Daesang Holdings, Vice Chairman Lim will participate in decision-making for strategic decision-making for the long-term development of all affiliates of the group, internal and external communication, and fostering human resources.” Explained.
Prior to this, Vice Chairman Lim Se-ryeong’s younger brother Im Sang-min was also elected as the target executive director last year. After graduating from the Department of History at Ewha Womans University, Lim completed an MBA course at London Business School. He joined Daesang in 2009 and is currently in charge of strategic planning for Daesang.
In the industry, it is predominant to see Daesang’s personnel as representing the formalization of the third generation sister management. Vice-Chairman Lim is expected to cover the entire management of other affiliates, including Daesang and Green Village in the holding company, and Managing Director Lim is expected to strive to discover new foods.
Above all, there is a view that there is a change in the succession structure that was focused on his younger brother Lim. Initially, Daesang Group thought that the succession of shares was centered on Managing Director Lim, and that he would continue the family business.
In fact, Vice Chairman Lim Se-ryeong’s stake in Daesang Holdings is 20.41%, which is less than Im Sang-min’s executive director (36.71%). In 2001, before honorary chairman Lim inherited shares to his two children, the sisters’ share ratio was the same at 2.57%, but after the inheritance, executive director Lim began to widen the gap to 14.42% and vice chairman Lim 10.22%. Then, through the transition to a holding company in 2005 and an additional purchase of shares in 2009, Lim became the largest shareholder of Daesang Holdings.
An industry insider said, “Im vice-chairman was promoted faster than Lim’s largest shareholder, but he had a small stake,” and said, “As both are actively participating in management, it is still difficult to predict the succession of management rights.”
Regarding this, Daesang Group explained, “The promotion of Vice Chairman Lim and the appointment of Daesang Holdings’ internal director are part of responsible management.”