Reporter Lee Ju-yeon Approved 2024.11.11 06:00 Opinion 0
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Daewoo E&C reportedly notified 29 executives of its dismissal as of last weekend. Currently, its total number of executives is 83, of whom 35 percent have been let go. Daewoo E&C is expected to reshuffle its organization and promote its executives this week. Photo = Daewoo E&C
Daewoo Engineering & Construction began restructuring its executives five days after Kim Bo-hyun, vice president of Daewoo Engineering & Construction, son-in-law of Chung Chang-sun, chairman of Jungheung Group, was appointed as the CEO's president on November 5.
Currently, a total of 83 Daewoo E&C executives are including Chairman Chung Won-joo and CEO Baek Jeong-wan, who decided to remain as CEO until February next year. Of these, 29 were notified of their dismissal last Friday. The company has undergone massive restructuring, which accounts for 35 percent of its executives.
As Kim Bo-hyun, who was in charge of personnel management and management of Daewoo Engineering & Construction, was appointed as CEO, a large-scale reorganization and dismissal of Daewoo Engineering & Construction's organization and personnel had already been predicted.
As a former Air Force general, Kim also went through a blitzkrieg process on personnel appointments. According to Daewoo E&C's public relations chief, the executives' promotions will be announced along with the reorganization as early as this week.
In particular, many of the executives who leave the company are the head of the headquarters. Kim Yong-hae, the executive director of the civil engineering division, Lee Yong-hee, the head of the financial management division, and Kim Young-il, the head of the safety and quality division, will be removed. The head of the housing business division has overcome the crisis this year as Kwak Byung-young, the head of the division, has been appointed as a new head of the division, but public opinion is rising that the deterioration of Daewoo Engineering & Construction's performance this year will occur mainly in the housing business division, and when it will change.
In particular, Lee Yong-hee, the head of the finance division, was known to have contributed to providing financial data in the preparation for the acquisition of Daewoo Engineering & Construction, but he eventually became cheaper three years after the acquisition.
The largest number of 29 executives leaving the company is the housing business headquarters, which also lost the most money, and nine out of 29. Next, six civil engineering headquarters and five plant business heads went out, followed by three safety quality, two finance and two strategies, and one each from overseas and legal affairs.
The promotion of executives is expected to take place this week along with the reorganization. As it has been three years since the acquisition of Daewoo E&C, Jungheung Group is expected to erase the color of Daewoo E&C and stick to the code of Jungheung. In the meantime, it is expected that Daewoo E&C Chairman Chung Won-joo and new CEO Kim Bo-hyun, who has been nominated as CEO this time, will compete
In particular, attention is focusing on the result of rumors that Chung Jeong-gil, the son of Chairman Chung Won-joo, will be promoted to vice president. Chung was born in 1998 and worked as an assistant manager of Jungheung Engineering and Construction before the acquisition of Daewoo E&C, but was promoted to managing director a year later after coming to Daewoo after the acquisition. If he is promoted to vice president this week, he would be the first high-speed promotion from deputy to vice president in three years after the acquisition of Daewoo E&C.
On the other hand, Kim Bo-hyun's two sons are also working at Daewoo Engineering & Construction, which is still an employee despite being born in 1995, three years older than Chung Jung-gil. As Kim Bo-hyun, vice president of general affairs, has been appointed as the CEO, at least a promotion is expected in the personnel reshuffle, and the key point is whether he will be promoted from an employee to an assistant manager or take the path of high-speed promotion as a manager or manager.
A former Daewoo E&C executive said, "The Jungheung Group initially gave promotion and positions according to its achievements in the acquisition of Daewoo E&C, but it seems that it is showing the color of Jungheung Group in earnest over the past three years," adding, "In the case of the head of the procurement division, the direct search for Jungheung has already begun, including the head of the division as a managing director B."
Reporter Lee Ju-yeon
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