CEOs of Korea's top 10 conglomerates hold their jobs for an average of only three years, according to CEO Score on Wednesday, which evaluates the performance of top management and their companies.
From 1999 to June this year, 310 CEOs in 94 listed subsidiaries of the country’s top 10 conglomerates lasted 2.97 years in their jobs on average.
According to law, the maximum term of a chairman is three years, but there are no limitations to serving multiple terms.
The CEOs of LG Group subsidiaries lasted the longest at 4.3 years. Other businesses where CEOs served for more than three years were Samsung (3.7 years), Hyundai Heavy Industries (3.1 years) and Hanwha (3.1 years).
CEOs in the SK Group came and went in 2.4 years. The next shortest periods were 2.5 years at Hyundai Motor and 2.7 years at GS.