Lotte Group Founder Shin Kyuk-ho Retires as Board Director at 94
- Shin has served as board director for almost 70 years
- Decision follows years-long family feud, corruption trial
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Shin Kyuk-ho, the 94-year-old founder of Korean-Japanese retail giant Lotte Group, is leaving his post as board director of Lotte’s holding company, a role he held for almost 70 years.
Shin will retire as board director of Lotte Holdings Co. to be the company’s honorary president, Lotte Group said in a text message after a regular shareholders’ meeting was held on Saturday morning. Shin had been a board member since 1948, when the company was founded.