Lotte replaced 21 CEOs and made the largest executive appointment ever, with 22% of executives retiring.
Roh Jun-hyung, vice president of Lotte Group's management innovation office, was promoted to president, and Shin Yoo-yeol, executive director of Lotte Group's future growth office, was promoted to vice president.
Lotte said it has reduced the size of its executives by 13% from the end of last year to speed up decision-making and boost productivity.
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