[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Department Store Group officially switches to a holding company system.

The plan is to complete the improvement of the group's governance structure through the launch of Hyundai GF Holdings, a holding company, while speeding up the achievement of "Vision 2030," which is being pursued with the aim of achieving 40 trillion won in sales by 2030.

Hyundai Department Store Group announced on the 8th that Hyundai GF Holdings, the group's holding company, was officially launched. Hyundai Land F Holdings held an extraordinary shareholders' meeting and a board meeting, respectively, and voted for the appointment of Hyundai Department Store Group Chairman Chung Ji-sun and Hyundai Department Store Group Vice Chairman Chung Kyo-sun as new in-house directors.

Even after the transition to a single holding company system, Chairman Chung and Vice Chairman Chung will remain as CEOs of Hyundai Department Store and Hyundai Home Shopping, respectively, in terms of responsible management.

Jang Ho-jin, who became the CEO of the holding company, will continue to serve as an in-house director of major affiliates such as Hyundai Department Store (069960) and Handsome (020000).

 

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