Hugel names ex-CEO of LG Household & Health Care as chairman

South Korea's biopharmaceutical company Hugel Inc. on Friday said it appointed Cha Suk-yong, former CEO and vice chairman of LG Household & Health Care, as Hugel non-executive director, chairman and chair of the board of directors in the company's 22nd regular general shareholders' meeting and that of its board on Thursday.

Previously head of P&G Korea and Haitai Confectionery, Cha has a proven success record in several industries. As CEO of LG Household from 2005 to last year, he raised sales and operating profit for 17 consecutive years.

He also completed 28 M&As to raise the portfolio of each business unit and diversified overseas markets to make LG Household No. 1 in the domestic beauty industry.

Hugel said it expects to expedite its advancement as a top-tier global company through Cha's appointment. Based on his know-how in the aesthetic field and experience in pioneering overseas markets, the company will streamline its global strategy for botulinum toxin, fillers and cosmetics and accelerate growth through more active efforts in new business development.

"We expect our newly appointed chairman Cha to lead the company's global growth with the existing board of directors plus shareholder support based on his business insight that goes beyond aesthetics and spans several industries," a company source said. "We will continue company-wide efforts with Chairman Cha to lead the medical aesthetic industry."

Write to Jae-Young Han at jyhan@hankyung.com