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Shop CJ sees major changes in senior management team
MUMBAI: Shop CJ Network, the equal joint venture between Korea’s CJ O Shopping and Providence Equity, has rejigged its senior leadership team, with SR Yoon taking the role of CEO of Shop CJ India in place of Kenny Shin and CFO N Ramakrishnan stepping down from his post.
Shop CJ Network 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.
Yoon will continue to be based at the headquarters of the parent company CJ O Shopping at Seoul. The appointment is subject to obtaining the necessary approvals from the government.
Ramakrishnan has stepped down from his post 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.
After the recent forays of Shop CJ Tamil and Shop CJ Telugu on 24×7 home shopping channels with specially designed and customised 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.
“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.
Commenting on the move, Shin said, “The last four 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 of experience in home shopping. He has worked in Korea, the US and India. 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 said it is slated to achieve more than Rs 900 crore (Rs 9 billion) revenue this fiscal, bettering its earlier estimates of Rs 850 crore (Rs 8.5 billion). It started operations six years ago in India.
India is one of the fastest-growing operations for CJ Network globally, the company said.