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Koo Bon-hyuk, third-generation successor of South Korea’s family-run LS Group, has given up the chief executive officer title of Yesco Holdings just 10 days after his succession with an excuse that he needs more time to hone management skills.
Koo, who became the CEO of Yesco Holdings, the holding entity of LS Group’s city gas retailing business, on Jan. 1 stepped down as of Jan 10, according to LS Group on Wednesday. He reportedly volunteered to step down, saying that he lacks experience in the city gas retail business and also sees a need to learn more in managing the business.
Koo’s uncle Koo Ja-cheol, Yesco Holdings chairman, will retain the CEO role. Bon-hyuk will lead the company’s team in charge of developing new businesses for growth.
Yesco Holdings is a part of LS Group, Korea’s 17th largest conglomerate that was spun off with metal and cable business from LG Group in 2003.
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
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