GS Caltex announces new co-CEO in major corporate reshuffle

In a significant move, GS Caltex, one of South Korea’s major oil refiners, has named Kim Seong-min as its new co-CEO. This appointment is part of a broader management reshuffle within the GS Group, marking the conglomerate’s largest-ever leadership change.

Kim Seong-min, born in 1967, has been elevated from his role as executive vice president to co-CEO, where he will lead production at GS Caltex. This change is part of a wider reshuffle involving around 50 executives, including the appointment of four CEOs across different GS companies.

In a significant move, GS Caltex, one of South Korea’s major oil refiners, has named Kim Seong-min as its new co-CEO. This appointment is part of a broader management reshuffle within the GS Group, marking the conglomerate’s largest-ever leadership change.

Kim Seong-min, born in 1967, has been elevated from his role as executive vice president to co-CEO, where he will lead production at GS Caltex. This change is part of a wider reshuffle involving around 50 executives, including the appointment of four CEOs across different GS companies.

Other key appointments in GS Group

GS Power: Yoo Jae-young, formerly the chief financial officer at GS Caltex, has been appointed CEO of GS Power, a power supply company.

GS Entec: Jeong Yong-han, previously overseeing production, is now the CEO of GS Entec, a manufacturer of power plant equipment.

GS Engineering & Construction (E&C): Huh Yoon-hong, the son of GS Group’s honorary chairman Huh Chang-soo, was named CEO in October.

GS Retail: Huh Suh-hong, cousin to Huh Yoon-hong and executive vice president of GS Holdings, will lead GS Retail’s service unit, focusing on business strategy and new ventures.

A shift towards generational change and diversification

This year’s reshuffle, involving a significantly larger number of executives compared to previous years, signals GS Group’s commitment to a generational shift and business diversification. The conglomerate has emphasised its focus on research and development, new business ventures, and digitalisation.

GS Group Chairman Huh Tae-soo highlighted the importance of adapting to an increasingly uncertain business environment. “The bigger the uncertainty grows in the business environment, the bigger focus you need to put on your customers,” he said, emphasising the need for rapid change with a customer-centric, future-oriented approach.