Lotte Group Chairman Shin Dong-bin, “Let’s break through’Corona 19′ by focusing on the 50s

Dongbin Shin, Chairman of Lotte Group[사진=롯데그룹 제공]

Lotte Group Chairman Shin Dong-bin said on the 13th, “Strengthen the system to mobilize company-wide to respond to’Corona 19′ that will continue this year.”

As the company suffered a deterioration in performance last year due to the prolonged Corona 19, it is interpreted as an organizational slum and the intention of leading 50s CEOs to take the lead in overcoming the crisis.

In particular, Chairman Shin emphasized, “Establish a well-established mid- to long-term vision and create an innovative organizational culture.” Chairman Shin made this announcement by presiding over the Lotte Group’s’Value Creation Meeting (VCM)’ in the first half of 2021.

Chairman Shin emphasized competitiveness and organizational digital transformation (DT) in the era of’with Corona’ with Corona 19 in VCM in the second half of last year.

More than 100 people attended the meeting, including co-presidents Song Yong-deok and Lee Dong-woo of Lotte Holdings, as well as Kang Hee-tae, Lee Bong-cheol, Kim Gyo-hyun, and Lee Young-gu, heads of the business unit in the distribution, hotel, chemical and food sectors.

VCM was held in the form of a webinar (web + seminar) using a video conferencing system at Lotte World Tower in Jamsil, Seoul, Lotte Department Store in Sogong-dong, and Lotte Confectionery Office in Yangpyeong-dong.

Lotte Group holds a presidential meeting every year with executives from affiliates in the first and second half of the year, sharing goals and mid- to long-term growth strategies. During the first half of the meeting, we will look back on last year’s business and discuss key issues and strategies for the group this year.

It is known that Chairman Shin ordered to change the management direction for each subsidiary and increase its execution power when it comes to reporting on current issues of subsidiaries. As representatives of subsidiaries have been replaced by young leaders, it is analyzed that they re-emphasized strong executive power and voluntary participation of employees.

Lotte Group suffered from sluggish performance last year due to the prolonged Corona 19. In particular, it was hit directly by its flagship distribution and chemical sectors.

As a result, the Lotte Group conducted year-end greetings earlier than normal in November of last year and drastically reduced the number of executives by 100. In addition, it is attempting to transform itself into a young organization by assigning executives in their 50s to major affiliates such as Lotte Food, Lotte Mart, and Lotte Chilsung Beverage.

In this year’s New Year’s speech, Chairman Shin urged employees to “focus on creating synergy at the group level by combining the strengths and capabilities of each company.” “Let’s remove the obstacles that block the creation of synergy with strong executive power.” There is a bar.