Lotte Group unveiled its annual executive appointments on Nov. 28, introducing significant leadership changes aimed at streamlining operations and driving organizational revitalization. Shin Yoo-yeol, the eldest son of Chairman Shin Dong-bin and a third-generation member of the conglomerate’s founding family, has been promoted to vice president.
The group’s board of directors convened meetings across 37 affiliates, including Lotte Corporation, the holding company, to finalize the 2025 appointments. The reshuffle resulted in a 13% reduction in the overall number of executives compared to the end of last year, with 36% of chief executive officers—21 in total—being replaced. Additionally, 22% of executives retired, marking the steepest leadership contraction since the pandemic-era restructuring in 2021.
Shin Yoo-yeol, previously an executive director in the Future Growth Office at Lotte Corporation, will now assume a pivotal leadership role as vice president. He has also been overseeing Lotte Biologics’ global strategy. In his expanded role, Shin is expected to spearhead the group’s global expansion and new business initiatives, focusing on advancing the biopharmaceutical contract development and manufacturing organization (CDMO) sector and exploring international markets for the group’s core operations.
The reshuffle has also brought major generational shifts to Lotte’s chemical divisions, with approximately 30% of executives retiring. Notably, 80% of executives aged 60 and above have stepped down, a move Lotte described as a “comprehensive overhaul” of its chemical operations.
At Hotel Lotte, the leadership of all three key business units—Lotte Hotel, Lotte Hotel Duty Free, and Lotte World—has undergone a complete transition. Managing Director Kim Dong-ha, previously head of the corporate culture team at Lotte Holdings’ HR Innovation Office, has been named CEO of the duty-free unit. Meanwhile, Lotte World has appointed Managing Director Kwon Oh-sang, formerly head of the New Business Division, as its new CEO.
In a sweeping generational shift, Lotte has appointed CEOs born in the 1970s across its subsidiaries. The group emphasized its commitment to bolstering business competitiveness and expediting innovation through the elevation of younger, highly capable leaders with proven expertise. “By expanding the roles of emerging talents within the group, we aim to strengthen our ability to execute new initiatives and enhance overall managerial effectiveness,” Lotte stated.
