10.27.17
Amorepacific Group's Chairman and CEO, Suh Kyung-bae, ranks #20 on Harvard Business Review's list of the Best-Performing CEOs in the World, 2017.
The list assesses and ranks CEOs' performance using factors such as market capitalization, shareholder interest and social contribution over the entire period of their tenure. Suh ranked #2 among all Asian CEOs. He also ranked highest among leaders of top global cosmetics giants.
Nana Von Bernuth, Director of Insead Business School comments, "Amorepacific is one of the most innovative companies according to Forbes and has pioneered innovations such as cushion technology. It is known that Suh enjoys reading and meditation and has always had a curious nature. We believe this is an essential trait to a long-term achievement in company management."
Since Suh's inauguration as CEO of Taepyeongyang Co., Ltd. (present Amorepacific Corporation), the company's sales have increased tenfold (KRW 646.2 billion in 1996 to 6.6976 trillion in 2016) and operating profit more than twenty times (KRW 52.2 billion in 1996 to 1.0828 trillion in 2016). These achievements allowed the company to become the 7th largest beauty company by sales, according to Women's Wear Daily.
The sales of its overseas operation totaled KRW 1.6968 trillion in 2016, which is 181 times larger than the amount the company exported in 1996, which was KRW 9.4 billion. Amorepacific is speeding up its global market reach and laying a business platform for its next global brands, while currently focusing on the five global champion brands -- Sulwhasoo, Laneige, Mamonde, Etude House and innisfree.
