Mang Ko Noh becomes new Head of Rakhat confectionery

Chairman and Non Executive Director of Lotte India Corp. Ltd Mang Ko Noh is the new Head of the Rakhat confectionery, Tengrinews reports citing the press office of the company. The changes in the Board of Directors and Management Board were announced during the unscheduled shareholder meeting. Mr. Mang Ko Noh was appointed the new Chairman of the Board of Directors. Before that he used to be Chairman and Member of the Audit Committee at Lotte India Corp. Ltd, according to Bloomberg Businessweek. In addition, the new Board of Directors includes Chairman of Rakhat's Board Alexander Zenkov, Deputy Chairman of the Board Song Jeong Six, the Independent Director Youn Young Ho and others. In November South Korean LOTTE Confectionery purchased 76% in Almaty-based Rakhat confectionery. The cost of the Rakhat deal reportedly made $157 million. Lotte Confectionery is the parent company of Lotte Group and is one of the biggest confectioneries in South Asia with the headquarters in Seoul, South Korea. The company manufactures and sells more than 200 products to more than 70 countries including the United States, China and Europe.