South Korean insurer Kyobo Life Insurance said Monday that the company would be led by three CEOs by adding a new chief to lead digital transformation.

Pyun Jung-beom, the newly appointed co-CEO, is a sales and strategy development expert who climbed the corporate ladder in Kyobo since 1988.

The new chief will be in charge of leading projects to accelerate digitalization at the company and to enhance the company’s capability for marketing and sales, officials said.

Co-CEO and Chairman Shin Chang-jae will focus on establishing long-term business strategies for sustainable growth while co-CEO Yoon Yeol-hyun will take charge of management support and external partnerships.

“The three CEOs will be able to beef up corporate competitiveness in each field, and they will try to build new business models that fit the digital era,” an official from the insurer said.

By Kim Young-won (wone0102@heraldcorp.com)