Hugel announced on March 31, 2023 that the company held the 22nd General Meeting of Shareholders and a Board of Directors meeting on the March 30, 2023. At the General Meeting of Shareholders, a total of four agenda items were presented and passed by a vote as planned. These included the approval of financial statements and the appointment of Suk-yong Cha, former Vice chairman & CEO of LG Household & Health Care Co.

Ltd.(LG H&H), as non-executive director. At the board meeting later that afternoon, non-executive director Cha was appointed as Hugel's new Executive Chairman and chairman of the Board. Chairman Cha previously served as the CEO of LG H&H for 18 years from 2005 to 2022, he set a record of 17 consecutive years of increasing sales and operating profits.

In particular, he transformed LG H&H into the global beauty company by enhancing the portfolio of each business divisions through 28 important M&As and expanding the company's reach into global markets, including North America, China, and Japan. In addition, Chairman Cha demonstrated his corporate management capabilities in various industries while serving as President & CEO of Procter & Gamble(P&G) Korea and President & CEO of Haitai Confectionary & Foods Co. Ltd. The appointment of Suk-yong Cha, former Vice chairman & CEO of LG H&H, is expected to aid Hugel in becoming a global top-tier company.

Based on Chairman Cha's know-how in the field of aesthetics and experience of expanding into global markets, Hugel plans to accelerate its growth by improving the global strategy for its botulinum toxin, HA filler, and cosmetics and strengthening the development of new businesses. Meanwhile, Brent L. Saunders, former Executive Chairman of the Board will be appointed Chair of a newly established Advisory Board. In this role, Brent will continue to support the company in its growth and global expansion.

About Suk-young Cha [Education] 1985 Indiana University School of Law, 1984 Cornell University (MBA), 1982 The State University of New York, Acquired AICPA (American Institute of Certified Public Accountants) 1974 Kyunggi High School, Seoul, Korea   [Professional Experience], 2005 to 2022 Vice Chairman & CEO of LG Household & Health Care(LG H&H) Co. Ltd. 2001 to 2004 President & CEO of Haitai Confectionary & Foods Co. Ltd, 1999 to 2000 President & CEO of Procter & Gamble(P&G) Korea and 1984 to 1998 Procter & Gamble(P&G) headquarters.