Cosmax Group announced on the 5th that it has recruited former CJ Olive Young CEO Heo Min-ho as Vice Chairman and new CEO of its holding company, Cosmax BTI. Vice Chairman Heo is scheduled to officially take office after the regular shareholders' meeting this month.

Vice Chairman Heo expressed his ambition, saying, "The next 10 years of Cosmax, the world's No. 1 cosmetics research, development, and manufacturing (ODM) company, will bring even more changes. We will do our best to stand at the center of K-beauty's growth engine, valuing innovation and speed as our top priorities."

Vice Chairman Heo is recognized for his innovative achievements in the domestic health and beauty (H&B) distribution sector. During his 10-year tenure as CEO of CJ Olive Young from 2008, he strengthened exclusive overseas brands and private brand (PB) products, leading CJ Olive Young to turn a profit and expand its stores from 40 to 1,100, achieving remarkable growth. In addition, during his tenure as CEO of CJ ENM Commerce Division, he successfully launched 'CJ OnStyle' and achieved record-breaking sales through logistics innovation such as dawn delivery.

It is known that Chairman Lee Kyung-soo of Cosmax led the recruitment of Vice Chairman Heo. Cosmax said, "Vice Chairman Heo is an excellent manager in promoting new businesses and responding to changes in the business ecosystem. He will actively lead Cosmax's new global business and future growth engine discovery."

[ⓒ Global Economic Times. 무단전재-재배포 금지]