[Alpha Biz=(Chicago) Reporter Kim Jisun] CJ Olive Young appointed the Chief Financial Officer (CFO) in six months and filled the financial vacancy.

According to the distribution industry on the 3rd, Lee Woo-jin, former management leader of CJ ENM's management support office, was appointed as CJ Olive Young's new CFO. The new CFO was confirmed to have started working last month.

Lee Woo-jin, the new CFO, joined GS Retail's sales planning team in 1999, joined the Samyang Strategic Planning Team in 2002 and SK Engineering & Construction in 2008, and first joined CJ Group in 2009 as CJ CheilJedang's food planning team.

Since 2011, he has worked at CJ Holding Company and has been promoted to executive director in charge of food & food services (CJ CheilJedang, CJ Freshway, CJ Foodville) and new distribution (Olive Young, CGV, Olive Networks).

Having built his career in the distribution sector, he has been working as CFO of CJ ENM since December 2020 and has started to manage corporate finance in earnest. He then moved to CJ Olive Young in three years to fill the CFO post, which had been vacant for half a year.

Former CJ Olive Young CEO Koo Chang-keun nailed CJ Olive Young's IPO to 2022, but the listing of Olive Young was postponed indefinitely due to worsening investor sentiment.

As the listing of Olive Young has been delayed, Jung Yoon-kyu, executive vice president of CJ Olive Young's management support office, tendered his resignation in January this year, leaving the CFO post vacant for six months.

Despite its best performance last year with operating profit of KRW 271.4 billion, there was a market response that IPO would be postponed indefinitely as it left its former CFO position.

Regardless of the delay in listing, Olive Young is steadily increasing its size and corporate value every year.

 

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