이 기사는 2021년 05월 14일 06:43 thebell 에 표출된 기사입니다.

TMON said on Monday that it named Jon In-chon, chief financial officer (CFO) of the ecommerce firm, as its new chief executive officer (CEO) to replace Lee Jin-won.

TMON insiders said Jon is the right person to lead the company. The largest shareholder of the company appointed its new CEO from within to minimize the impact after Lee’s unexpected resignation.

Prior to joining TMON last year, Jon worked at Young Toys after Pacific Alliance Group, the largest shareholder of the South Korean toymaker, recruited him as the CFO. He was later promoted to CEO and served in the role from December 2015 to January 2018.

In 2015, Young Toys’ financial performance deteriorated, with sales falling 31% to 77.1 billion won ($68 million) and operating profit plummeted 75% to 6.4 billion won year-on-year.

After he was named CEO, the company’s sales recovered dramatically to 103 billion won in just one year. Operating profit also more than doubled to 14.5 billion won.

Young Toys recorded sales of 156.4 billion won and operating profit of 30.1 billion won in 2017, its best financial performance ever.

Young Toys and TMON are different in business types and sizes, but Jon is expected to pursue the similar strategy. TMON is under similar circumstances to that of Young Toys in 2015. TMON’s sales dropped 12% in 2020 ahead of its planned initial public offering (IPO).

TMON is seeking new growth drivers to solve the situation. The company is preparing to launch its delivery service and resumed its fresh food delivery service Supermart, which it halted in 2019.

The ecommerce firm plans to be listed under the Korea Exchange’s “Tesla standards,” for promising companies that have not yet posted significant profit. Jon is expected to put priority on regaining the company’s growth potential for the successful IPO. (Reporting by Mi-hyung Cheong)