Celltrion sons join board of holding firms to bolster generational shift

Two sons of Celltrion Group founder Seo Jung-jin have joined the board of the group’s non-listed holding entities to ready second-generation management after Seo’s resignation last year.

Seo Jin-seok, the founder’s first son leading Celltrion’s product development department, was named board chairman of Celltrion Holdings to inherit the seat from his father.

Celltrion Holdings is the biggest shareholder of the group’s key operating unit Celltrion.

He is also heading the managing board of Celltrion after earning the seat last month at its regular shareholders’ meeting.

Seo Jin-seok and Seo Joon-serk

His younger brother Seo Joon-serk joined the board of Celltrion Healthcare Holdings, the non-listed holding company and largest shareholder of Celltrion Healthcare. He was named a board of director of Celltrion Healthcare, the distributing unit, last month.

Celltrion Healthcare Holdings was established last year by contributing father Seo’s stocks in Celltrion Healthcare.

Joon-serk joined the board after his father left the seat. His older brother Jin-seok is leading the board of Celltrion Helathcare Holdings.

On Monday, shares of Celltrion fell 1.04 percent to close at 285,000 won in the main Kospi market. Kosdaq-listed Celltrion Healthcare dropped 2.19 percent to end at 120,400 won and Celltrion Pharm dipped 1.42 percent at 145,400 won.

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