Lotte Chairman Shin Dong-bin escorts LVMH Chairman Bernard Arnault at Lotte Department Store's Jamsil branch in southern Seoul on Monday. [NEWS1] Lotte is reestablishing its brand identity and is unprecedentedly hiring a CEO from outside the group, while simultaneously pushing the group chairman's son into the business. Lotte Confectionery, which was named by late founder Shin Kyuk-ho in 1967, will be renamed Lotte Wellfood from April. The board voted on the agenda at a general shareholder meeting held at Lotte headquarters in western Seoul on Thursday.

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