Hugel Appointed Suk-yong Cha as Executive Chairman and Chairman of the Board Accelerating Transformation into a Global Top-tier Company

- Appointed as Executive Chairman and Chairman of the Board at the General Meeting of Shareholders and Board of Directors meeting on the 30th

- Chairman Cha will lead the growth of Hugel based on his aesthetics know-how and experience in pioneering global markets

SEOUL, South Korea, March 31, 2023 /PRNewswire/ -- Hugel (CEO: Ji-hoon Sohn), a global total medical aesthetics company, announced on March 31st that the company held the 22nd General Meeting of Shareholders and a Board of Directors meeting on the 30th.

At the General Meeting of Shareholders, a total of four agenda items were presented and passed by a vote as planned. These included the approval of financial statements and the appointment of Suk-yong Cha, former Vice chairman & CEO of LG Household & Health Care Co., Ltd.(LG H&H), as non-executive director. At the board meeting later that afternoon, non-executive director Cha was appointed as Hugel's new Executive Chairman and chairman of the Board.

Chairman Cha previously served as the CEO of LG H&H for 18 years from 2005 to 2022, he set a record of 17 consecutive years of increasing sales and operating profits. In particular, he transformed LG H&H into the global beauty company by enhancing the portfolio of each business divisions through 28 important M&As and expanding the company's reach into global markets, including North America, China, and Japan.

In addition, Chairman Cha demonstrated his corporate management capabilities in various industries while serving as President & CEO of Procter & Gamble(P&G) Korea and President & CEO of Haitai Confectionary & Foods Co. Ltd.

The appointment of Suk-yong Cha, former Vice chairman & CEO of LG H&H, is expected to aid Hugel in becoming a global top-tier company. Based on Chairman Cha's know-how in the field of aesthetics and experience of expanding into global markets, Hugel plans to accelerate its growth by improving the global strategy for its botulinum toxin, HA filler, and cosmetics and strengthening the development of new businesses.

Meanwhile, Brent L. Saunders, former Executive Chairman of the Board will be appointed Chair of a newly established Advisory Board. In this role, Brent will continue to support the company in its growth and global expansion.

Hugel's CEO, Ji-hoon Sohn, said, "We expect that Chairman Cha, along with the existing Board of Directors, and with strong support from our investors, will be instrumental in leading the global growth of Hugel based on his extensive business insights in not only aesthetics but also in various industries. We will continue company-wide efforts with Chairman Cha to take the lead in the global medical aesthetics industry. I would also like to thank Brent for his service to the company and look forward to his continued support in his new appointment."

About Suk-young Cha

[Education]
1985 Indiana University School of Law
1984 Cornell University (MBA)
1982 The State University of New York
Acquired AICPA (American Institute of Certified Public Accountants)
1974 Kyunggi High School, Seoul, Korea

[Professional Experience]
2005 ~ 2022 Vice Chairman & CEO of LG Household & Health Care(LG H&H) Co., Ltd.
2001 ~ 2004 President & CEO of Haitai Confectionary & Foods Co. Ltd
1999 ~ 2000 President & CEO of Procter & Gamble(P&G) Korea
1984 ~ 1998 Procter & Gamble(P&G) headquarters

SOURCE Hugel