SK Innovation announces major executive restructuring for 2024

In a strategic move to navigate an increasingly unpredictable business landscape, SK Innovation and its subsidiaries have announced a comprehensive organisational and executive personnel restructuring for 2024. This initiative aims to enhance inter-organisational synergy and prepare for future challenges through significant personnel changes.

Park Sang-kyu, previously the CEO of SK Enmove, has been appointed as the new CEO of SK Innovation. Previously known as SK Lubricants, the company changed its name to SK Enmove to strengthen its ability to execute its financial story and emphasise its new identity as an “energy saving” and “environmentally friendly” company. SK Enmove exports high-quality Group III base oil to more than 140 customers in 50 countries and finished lubricant products to more than 60 countries. 

Park’s appointment as CEO of SK Enmove’s parent comes in recognition of his strategic and operational expertise, honed through years of experience within the company. As the incoming CEO, Park is expected to bolster internal stability and drive sustainable growth in a volatile business environment.

Park’s journey with the company began in 1987 at Yukong, SK Innovation’s predecessor. His career includes pivotal roles such as the head of Retail Marketing Division at SK Energy, leader of Retail Strategy Team, head of Planning Division at SK Corporation, and chief operating officer at SK Networks. Most recently, he served as CEO and president of SK Networks from 2017 to 2022, before taking up the leadership at SK Enmove in 2023.

Kim Wone-kee, who currently leads the Green Growth Division at SK Enmove, has been named the new CEO of the same company. With a rich background that includes managing the Amsterdam subsidiary and the Base Oil Marketing Division, Kim is poised to drive significant green business outcomes.

Oh Jong-hoon, the current head of SK Energy P&M, steps up as the new CEO of SK Energy. His extensive background includes roles in Portfolio Management at SK Holdings and leading SK Energy’s BM Innovation Division. Oh’s deep understanding of energy marketing is expected to significantly enhance SK Energy’s competitive edge.

Lee Seok-hee, the former CEO of SK Hynix, takes on the role of CEO at SK On, which specialises in the development and production of electric vehicle (EV) batteries.. Lee’s impressive career spans across global tech giants and academia, including a stint as Process Integration manager at Intel and an associate professorship at the prestigious Korea Advanced Institute of Science and Technology (KAIST). His tenure at SK Hynix saw him rise from head of DRAM Product and Technology Division to COO, and then CEO. Recognised for his manufacturing expertise and thrice awarded the Intel Technology Award, Lee is deemed the ideal leader to propel SK On into a leading position in the battery technology sector.

Chang Ho-joon, from SK Energy’s Optimization Operation Office, has been appointed as CEO of SK Trading International. His diverse business experience and strategic planning skills are expected to fuel the growth of the company.

Roh Sang-goo, previously at the helm of SK Energy’s Strategic Operations Division, is now the CEO of SK Incheon Petrochemical. Roh’s extensive experience in production support and operation optimisation is anticipated to drive innovation at SK Incheon Petrochemical.

This reshuffle is part of SK Innovation’s strategy to standardise its organisational structure as an intermediate holding company and bolster its management capabilities. This includes the formation of a new strategy and finance division, integrating key business management functions for enhanced expertise.

Subsidiaries under SK Innovation are set to adopt a more agile decision-making process and take greater responsibility for their financial performance. This includes integrating SK Energy’s CIC system and establishing a new strategy division to improve execution capabilities.

SK Geo Centric and SK Enmove are intensifying their efforts to yield tangible results in projects like Ulsan ARC and e-Fluids. SK On is focusing its restructuring on enhancing manufacturing, R&D competitiveness, and profitability. SK IE Technology is launching a new marketing division to develop region and consumer-specific strategies.