CEO with Global Business Acumen and Network
Chey Jae-won, senior vice chairman of SK Group, has been appointed as the co-CEO of SK On at the company's board meeting and an extraordinary shareholders’ meeting on Dec. 17.
SK On is a company specializing in electric vehicle batteries. Launched on Oct. 1, it is 100 percent owned by SK Innovation.
Chey Jae-won is a younger brother of SK Group chairman Chey Tae-won. He will lead SK On together with current CEO Ji Dong-seop beginning from Dec. 17. Chey is expected to take charge of growth strategies and global networking, while Ji is expected to focus on overall management. SK On’s board of directors will be chaired by SK Innovation vice chairman Kim Joon.
“The executive reshuffle shows the company’s will to grow its battery business into a key growth driver for SK Group and a top global company in the battery sector,” an SK On official said.
SK On's board has highly evaluated Chey's global business acumen and network, which he has developed through his career at SK Group. He has served as CEO of the group's major affiliates and headed the group's Global Committee. Based on his insight, the junior Chey has led the group's investment in the battery business.
“We will accelerate SK On's growth to speed up SK Group’s decarbonization strategy and contribute to the expansion of the global electric vehicle and battery service market,” Chey said, adding that this will lead to creation of value for consumers.