Hanmi Pharmaceutical Co. has appointed Park Jae-hyun, head of manufacturing, as its new CEO during its annual shareholders’ meeting, while CEO Woo Jong-soo, President Kwon Se-chang and Vice Chairman Lee Kwan-soon have stepped down. The restructuring of Hanmi’s management has caused uncertainty over family succession in the business as the second son of Hanmi Pharm’s founding owner, Lim Jong-hoon, was not reseated on the board. Lim Ju-hyun, the daughter of the late founder, also stepped down from the board of both Hanmi Science and Hanmi Pharmaceutical earlier this year. The only remaining second-generation member on the board is the eldest son Lim Jong-yoon, who is also the CEO of Hanmi Pharmaceutical but lost influence after stepping down from the CEO position at Hanmi Science in the previous year. Hanmi Science Co. has renamed Chairman Song Young-sook as the CEO, and Hanmi Science restructured its management under the leadership of Song.
Hanmi Pharmaceutical Co. has undergone a leadership reshuffle, but there are no signs of generational succession in the family business. Park Jae-hyun, head of manufacturing, has been appointed as the new CEO of the Korean pharmaceutical company, while CEO Woo Jong-soo, President Kwon Se-chang and Vice Chairman Lee Kwan-soon have stepped down to serve as advisors. The second son of Hanmi Pharm’s founding owner, Lim Jong-hoon, was not reseated on the board during the annual shareholders’ meeting, leaving the process of handing over control to the second generation unclear. Park started his career at the company in 1993 as a drug formulation researcher and has held various positions including executive director and managing director. Meanwhile, Hanmi Science Co. has renamed Chairman Song Young-sook as the CEO, and Hanmi Science restructured its management under the leadership of Song, with Shin Yu-chul appointed as the new board chairman. The only remaining second-generation member on the board is the eldest son Lim Jong-yoon, who is also the CEO of Hanmi Pharmaceutical. However, he lost some influence after stepping down from the CEO position at Hanmi Science last year. Lim Ju-hyun, the daughter of the late founder, stepped down from the board of both Hanmi Science and Hanmi Pharmaceutical earlier in 2021.
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