South Korea's largest telecom operator SK Telecom (SKT) has announced it has officially appointed Park Jung-ho as the company's new president and CEO, replacing Jang Dong-Hyun in the top position at SKT.
In a statement issued by SK Telecom, it revealed that the shake-up was made in order to take the aggressive steps required in transforming the organization. Outgoing CEO Jang, will move to SK Holdings C&C to become the sole CEO.
New SK Telecom, CEO Park, had previously held that position in a joint-capacity with SK Holdings president Cho Dae-sik, who has subsequently been named as chairman of the group's top decision-making body. Other internal organizational changes see SK Holdings chairman, Kim Chang-geun move into an advisory role.
SK Telecom issued the following press release: 'These appointments are largely affected by business uncertainties at home and abroad and we decided to take aggressive steps toward making the organization more agile and innovative.'
Park, who joined the group in 1989, became co-CEO at SK Holdings C&C in January 2015. From 2009 to 2013, he was head of the business development division of SKT and played an integral role in its acquisition of Hynix.
'The new CEO will take a leading role in large-scale innovations and changes through the convergences of telecoms, Internet of Things, media, platform and semiconductor businesses,' the operator stated.