MUMBAI: Shop CJ Network has announced SR Yoon as the new CEO of Shop CJ India in place of Kenny Shin, subject to obtaining the necessary approvals from the Government of India.
Yoon will continue to be based at the headquarters of the parent company CJ O Shopping at Seoul.
After the recent successful forays of Shop CJ-Tamil and Shop CJ-Telugu on 24x7 home shopping channels with specially designed and customized content for Tamil and Telugu speaking population, Shop CJ CEO Kenny Shin is going back to the parent company CJ O Shopping Co. Ltd., which is in the midst of major overseas expansion. Yoon will assume responsibilities in his place.
"It is undoubtedly very exciting to be in one of the fastest growing markets in the world" said Yoon, who has worked previously with Samsung as CEO Australia and in its marketing division before moving to CJ O Shopping last year.
Shop CJ India COO Dhruva Chandrie will now take responsibility for overall operational matters of Shop CJ. Additional to the marketing and operations departments, finance, planning, IT and E‐commerce will also report to him. In addition, N. Ramakrishnan has decided to step down as the CFO of the company to pursue other interests. The Board has initiated a search to fill the role of CFO and Shop CJ will have a new CFO soon.
Commenting on the move Shin said, “The last 4 years in India have been excellent for Shop CJ. I have enjoyed my India stint and it was a period of great learning and achievements." Shin has more than 20 years experience in home shopping. He has worked in Korea, US and India. Global giant from South Korea, CJ O follows the policy of rotating its senior leadership assigned with overseas roles. Shin had been instrumental in driving several strategic initiatives at the company and successfully transforming Shop CJ during his tenure in India.
Shop CJ is slated to achieve more than 900 Crore revenues this fiscal, bettering its earlier estimates of 850 Crore. It started operations six years ago in India. India is one of the fastest growing operations for CJ Network globally.
Further commenting on the appointment, Yoon said, “I am glad at the prospect of spearheading the India operations for the CJ Network. India is an exciting country, a complex market with huge opportunities and interesting challenges. Shop CJ has a more robust strategy, culture and talent in India than ever before, a must for a sustainably fast growing business. With the continuation of strong leadership, we are poised to grow here. My role would be to enhance the opportunities and reduce the challenges. I believe we will be able to ensure and continue our growth in the market while delivering world-class shopping experience to our customers.”
Providence Equity Partners Group, investor in Shop CJ, is in full support of the management decisions and is confident on company’s accelerating growth in India foreseeing positive outlook in the market.
