South Korean tech giant Naver has appointed several new executives from the 1980s generation as founder Lee Hae-jin prepares to return to the company, reflecting his plan to bring in younger leadership for upcoming organizational changes.
According to Naver on March 18, the company appointed six new executives this month, five of whom were born in the 1980s. The new leaders in executive positions at Naver include Yun So-young (born in 1981) for shopping business partnerships, Seo Myung-won (1981) for commerce design, Jeon Yong-woo (1981) for search products, Joo Geon-beom (1983) for sports & entertainment, and Heo Gyu (1983) for security.
All the new executives in the shopping and commerce sectors, a focus with the launch of Naver’s AI shopping app Naver Plus Store, are from the 1980s generation. Naver’s core business of search, as well as sports & entertainment and security, also have executives from the same generation in charge.
Speculation is growing that the founder’s return will lead to more 1980s-born leaders taking key positions at the “new Naver,” including C-level roles and division heads. Among Naver’s three C-level positions and 15 division head roles, only three are currently filled by 1980s-born individuals, with Choi Soo-yeon serving as CEO, Koo Dong-hyun as head of strategy and planning, and Lee Jae-hoo as head of the Naver App division.
The Naver founder emphasized the need for younger leadership in July 2021, saying that “younger, newer leaders are the fundamental solution.” Following this, Choi Soo-yeon was appointed as CEO. The number of 1980s-born executives at Naver, which was just eight in 2021, has grown to 31 in three years, outpacing competitors like Kakao, which has only nine.
Industry experts predict that under Lee’s leadership, Naver will see many 1980s-born executives working closely with CEO Choi. Han Joon-ki, a professor of HR management, pointed out that these executives, familiar with IT and consumer trends, could strengthen Naver’s competitiveness and project an image of innovation.
Lee is set to return to Naver’s board of directors on March 26 after a seven-year absence.
