Homeplus said that its COO Do Sung-hwan has been named as the chief executive of Tesco Malaysia.
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Do Sung-hwan |
Homeplus started its operation here in 1999 as a joint venture between Samsung Group and Tesco. Currently, the U.K.-based retail giant holds almost 95 percent of company shares.
In 12 years of business in Korea, it is the first time that Homeplus, the nation’s second-largest supermarket chain, has produced a CEO for an overseas unit of Tesco, the company said.
“Selecting a Korean executive as the CEO of one of Tesco’s overseas branches indicates the Tesco group has recognized the achievements of Homeplus over the past 12 years,” said Homeplus CEO Lee Seung-han.
Do, 55, entered Samsung Corp. in 1981. Starting as the supervisor of Homeplus’ first branch in Daegu, he has served a variety of positions within the retail chain.
He especially played an important role in getting Homeplus onto the right track after it took over Homever, an E.Land chain of stores taken over from France’s Carrefour, in 2008, the company said.
Homeplus currently operates 123 outlets nationwide and its annual sales are estimated to be 11 trillion won ($10 billion).
Tesco Malaysia, established in 2002, has 38 stores last year and about 11,000 employees. It is a market leader in the country, with its sales last year standing at $1.3 billion.
By Lee Ji-yoon (
jylee@heraldcorp.com)
