It was belatedly confirmed that former Daewoong Pharmaceutical Chairman Yoon Jae-seung, who resigned from management due to abusive language controversy, returned to the company and its affiliates after three years and four months.
According to the pharmaceutical industry on May 20, former Chairman Yoon has been working as an unregistered and non-standing executive with the title of 'Chief Vision Officer (CVO)' at Daewoong Pharmaceutical, Daewoong, the holding company, and Hanall Biopharma, respectively, since January this year.
The company said that former Chairman Yoon is in charge of tasks such as suggesting the direction of the company as a CVO.
An official from Daewoong Pharmaceutical said, "It is a kind of advisory role that supports decision-making in conducting business. There is no change in the current professional management system.”
Currently, Daewoong Pharmaceutical and Daewoong are all operating under professional management systems.
Daewoong Pharmaceutical is led by CEOs Jeon Seung-ho and Lee Chang-jae, and Daewoong’s CEO Yoon Jae-chun is leading the company as professional manager.
Hanall Biopharma is under the CEO Park Seung-guk and Jeong Seung-won system.
Former Chairman Yoon is the third son of the founder, Honorary Chairman Yoon Young-hwan, and as of the end of March this year, he is the largest shareholder with an 11.6% stake in the holding company Daewoong.
Former Chairman Yoon resigned from management after giving up all his positions at Daewoong and Daewoong Pharmaceutical when it was revealed in August 2018 that he had verbally abused employees while presiding over a meeting or receiving a report.