Chung Ho Group appoints CEO after Carlyle acquisition
South Korea's Chung Ho Group has appointed Choi Jin-hwan as the group's chief executive officer and president of holding company Crystal Holdings Korea. The appointment came after investment firm Carlyle acquired the home appliance group in August, Korea Herald reports.
Division heads
Choi Jin-hwan will be responsible for Chung Ho Group's strategy and development and will work with the heads of its operating divisions: Chung Ho Nais, Microfilter, MCM and Nais Engineering.
The group also appointed Jeong Chang-kook as CEO of Chung Ho Nais, Microfilter and MCM. The Nais Engineering division will be led by Jung Se-hyung.
More current news is available on the UA.News Telegram channel Telegram.
The new executive's experience
Choi Jin-hwan will also serve as a senior adviser to Carlyle's Asia advisory team. He will help the investment firm assess opportunities in South Korea and the Asia-Pacific region, as well as advise its portfolio companies on value creation.
Choi Jin-hwan has more than 30 years of management experience at consumer-focused companies. He held executive positions at Lotte Rental, Hyundai Capital, Hyundai Life Insurance, SK Broadband and ADT Caps. Before his appointment, he was CEO and president of Lotte Rental, where he strengthened the core rental business, developed new areas and worked on transforming the company into a data-driven mobility platform.
Carlyle Asia Partners Korea Chairman John Kim and the firm's Korea head Icksoo Jung said that Choi Jin-hwan's experience in managing large consumer and rental businesses should support Chung Ho Group's next stage of growth. Choi Jin-hwan said that he plans to strengthen the Chung Ho brand, deepen customer relationships and ensure sustainable development in cooperation with Carlyle and the group's management.
