CJ Group Chairman Lee Jay-hyun has tightened his grip on expanding the group's global territory. He ordered the management to prepare for the future of the group's overseas projects, saying that its future depends on the performance of the overseas projects for the coming one or two years.
According to CJ on Dec. 16, Chairman Lee held a global management strategy meeting in Los Angeles on Dec. 13 (local time) to examine the current status of global business and mid- and long-term strategies for the group. It was the first time in six years that Chairman Lee presided over a global management strategy meeting attended by representatives of major management and affiliates of the group at a foreign business site.
After acquiring the U.S. logistics company DSC Logistics in June this year, CJ has been actively expanding its business in the U.S. by undertaking the U.S. frozen food company, Schwan's Co., the group's largest takeover, in November.
Noting that the global business has grown slowly for 13 years since we declared a global leap here in LA in 2005, Chairman Lee said at the meeting, "Although there have been some achievements such as bio, home meal replacement (HMR) and drama, it is not enough to be a truly global company. 2019 is an important year that we can no longer be backed down. Be desperate and pursue special business structure innovation and execution strategies."
CJ has chosen the "two-track" management strategy for next year. While actively expanding the global businesses, it is planning to strengthen the group's structure and focus on improving profitability by innovating business structure while preparing for recession and long-term low-growth.
CJ operates the food, bio, logistics and culture businesses in 20 countries, including the U.S., Brazil and Mexico. Recently, it has set the American region as a key strategic location for overseas projects, accelerating its business expansion through large-scale M&As.
