Cosmax Group Elevates Founder’s Sons to Vice Chairmen as It Strengthens Global Beauty Strategy
Creatrip Team
2 months ago
Cosmax Group promoted founder Lee Kyung-soo’s two sons, Lee Byung-man and Lee Byung-joo, to vice chairmen as part of a restructuring to reinforce its cosmetics and new-business strategies. Lee Byung-man will oversee Cosmax’s core cosmetics ODM (original design manufacturer) operations, including R&D, production, quality and global client relations, focusing on premium and functional products and helping indie brands go global. Lee Byung-joo will lead Cosmax BTI, driving future growth through personalized beauty, devices, beauty tech, data-driven solutions, strategic investments and M&A to pivot the group toward a ‘customized beauty solutions’ model. The group also named Hur Min-ho, a retail executive credited with growth at Olive Young (a major Korean health & beauty retailer), as its first-ever senior vice chairman to co-lead mid- to long-term strategy. The promotions expand the vice-chair ranks to four and reflect a succession plan that has rotated the two brothers through key roles and regional business responsibilities (e.g., China and the U.S.). Several other internal promotions were made, including younger executives and five women among new appointees. Cosmax remains a global ODM for cosmetics, health supplements and pharmaceuticals with about 5,000 client companies across markets such as China, the U.S., Australia, Thailand, Indonesia and Japan.
