(from left) President & CEO Kim Yeon-chul of Hanwha Systems, President Ok Kyung-suk of Hanwha Corp.

(from left) President Ahn Soon-hong of Hanwha Techwin, and CEO Lee Koo-yung of Hanwha Chemical.

(from left) CDEO Lee Ki-nam of Hanwha Corp. Precision Machinery Division,; CEO Ryu Doo-hyung of Hanwha Q Cell and Advanced Materials.

CEO Chung In-sup of Hanwha Energy.

Hanwha Business Group carried out an executive reshuffle, replacing CEOs of the group’s seven subsidiaries on Sept. 23.

The personnel change may be construed as a generational change, appointments of CEOs with expertise and business performances, and to ramp up competitiveness of the group’s mainstay businesses.

Hanwha Group promoted Senior Executive Vice President Kim Yeon-chul, who concurrently served as CEO of Hanwha Corp. Machinery Division, Hanwha Corp. Precision Machinery Division and Hanwha Techwin to president-CEO of Hanwha Systems.

Kim was the sole CEO to be promoted to president in the latest reshuffle. He was evaluated to ramp up competitiveness though the raising of profitability and the improving of fundamentals in his job.

New President Kim of Hanwha Systems plans to expand new businesses of Hanwha Systems by converging technology in the defense and electronics sectors and software capabilities in the civilian industry, the group said.

President Ok Kyung-suk of Hanwha Corp. Explosives Division/Defense Division was nominated as new concurrent president of Hanwha Corp.

Machinery Division, following in the footsteps of Kim. President Ok, former Samsung Electronics expert in management and innovation, was hired by Hanwha Group in 2016. In the 2016 reshuffle, Ok was appointed to be CEO of Hanwha Corp. Defense Division. He was concurrently named as CEO of Hanwha Corp. Machinery Division.

Senior Executive Vice President Lee Koo-yung, in charge of overseeing business at Hanwha Chemical, was nominated as CEO of the chemical division of the business group.

Vice Chairman and CEO Kim Chang-beom of Hanwha Chemical is essentially resigning from management as he will serve as chairman of the board of directors of the company.

New Hanwha Chemical CEO Lee is a seasoned expert in the chemical and energy fields as he has been with Hanwha Chemical and Hanwha Q Cells. He is rated to have the right stuff to expand the global business of Hanwha Chemical and valued-added businesses. Lee is evaluated to have abundant field expertise and excellent execution of missions.

Executive Vice President Lee Ki-nam in charge of overseeing business at Hanwha Corp. Precision Machinery Division was named as CEO of the division, while Ahn Soon-hong, head of the Marketing Office at Hanwha Techwin was promoted to executive vice president to serve as CEO of the company.

New CEO Ahn, an ex-Samsung Electronics employee, is a long-standing veteran in the image surveillance equipment segment.

He has been credited with achieving a high growth rate and expanding global business of Hanwha Techwin while serving as chief of its operation in the United States. Ahn became the first Samsung working-level official-turned CEO since Hanwha signed a big deal with Samsung Group.

Senior Executive Vice President Ryu Doo-hyung, CEO of Hawha Energy, was appointed to be the new CEO of Hanwha Q Cell and Advanced Materials.

Senior Executive Vice President Chung In-sup of Hanwha Energy was nominated as CEO of the company. Ryu had been credited with expanding community energy and photovoltaic power businesses while serving as CEO of Hanwha Energy.

Chung, who once worked with the secretariat of Daewoo Group, is a seasoned global strategy expert as he had been with KPMG Consulting, the overseas business of Byucksan E&C, and head of the overseas business team of Hanwha Life.

The seven newly nominated CEOs will officially take office after a meeting of the board of directors and a shareholders’ meeting to approve their appointment. Business sources said the latest reshuffle may also be interpreted as the group’s positioning professional managers in foremost jobs.

The latest personnel change was conducted in accordance with a decision to lay a foundation for future management sustainability through substantial management amid external and internal uncertainties, a group official said.