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[Robert Fouser] Why the US election looks so close
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Only one out of 6 chief executive officers at affiliates of the country's top 30 conglomerates have been replaced recently, data showed Thursday, indicating that major business groups prefer "stability" over "change."
According to industry tracker CEO Score, 60, or 16.9 percent, out of 355 CEOs at 264 companies affiliated with the nation's top 30 business groups have been changed in reshuffles between late last year and early this year.
The replacement rate compares with the previous year's figure of 18.6 percent, the data showed.
The data showed that Lotte Group, embroiled in a bitter succession feud between two sons of the group founder, changed nine out of 21 CEOs at 16 affiliates, the largest rate among others.
Hyundai Heavy Industries Co., the country's top shipbuilder, also replaced two out of six CEOs at its five affiliates, as it suffered a decline in new orders amid a drawn-out slump, the data showed.
Samsung Group -- South Korea's largest conglomerate, which has Samsung Electronics Co. and Samsung C&T under its wing -- changed just two out of 27 chief executives at 22 affiliates, the data showed.
In contrast, Daewoo Shipbuilding & Marine Engineering Co., another troubled shipbuilder; KT&G Corp.; and three other business groups did not change their CEOs. (Yonhap)
