[THE INVESTOR] The average age of CEOs leading companies under Korea’s five largest conglomerates came to 58.1 years, raising the possibility of a potential C-suite reshuffle by the year-end, according to a Seoul-based corporate tracker on Nov. 12.
They include 122 chiefs of affiliates under Samsung, Hyundai Motor, SK, LG and Lotte, as per data compiled by CEOScore.
LG Group’s CEOs are the oldest with the average age of 60.9 years, followed by Hyundai Motor and Lotte at 59.3, Samsung at 57.4 and SK at 55.8.
LG Chem Vice Chairman Park Jin-soo, 66, who recently announced his retirement after 42 years at the group, is the oldest, followed by Cha Suk-yong, 65, who is the vice chairman LG Household & Health Care.
Kim Kyung-yup, the 48-year-old CEO of Hyundai Information Technology, a unit of Lotte, is the youngest, followed by Chung Chan-il, 49, who heads NanoEnTek, an SK Group affiliate.
With 46 CEOs in their 60s, composing 37.7 percent of all the top jobs, CEOScore projects a major leadership transition to the younger generation this year.
At the nation’s largest conglomerate Samsung, many CEOs in their 60s left the top job last year, retaining five sexagenarians, including Kim Tae-han of Samsung Biologics, Kim Yong-sik of Semes, Jun Dong-soo of Samsung Medison, Nam Joon-woo of Samsung Heavy Industries and Kim Ki-nam of Samsung Electronics.
Hyundai has 10 CEOs in their 60s, including Cho Won-jang of Hyundai Dymos and Sung Sang-rok of Hyundai Engineering. At SK, three CEOs are in their 60s, including Park Sung-wook of SK hynix.
As for LG, 13 out of 17 CEOs are in their 60s. With the fourth-generation founding family member Koo Kwang-mo taking the helm of the conglomerate in June, all eyes are on how the 40-year-old will carry out the management reshuffle.
Meanwhile, Lotte has 15 CEOs in their 60s.
By Ahn Sung-mi (firstname.lastname@example.org)