Wattpad names president amid exec reshuffle

LA and Seoul-based IP creation platform Wattpad has appointed David J Lee as president, as part of a broader rejig at parent company Webtoon Entertainment.

Lee takes on the role in addition to being global CFO for Webtoon Entertainment, which named former KKR exec Yongsoo Kim as president last month.

The move is part of Webtoon’s strategy to “streamline” its operating structure, shifting from regional execs to a team with global oversight of the company, which is owned by South Korean giant Naver.

Lee will work with former Fox exec David Madden at Wattpad, after he was appointed chief exec at Webtoon Productions (fka Wattpad Studios) last year.

Wattpad said Lee would drive “a deepened focus on ad-supported free content and expanded access” for its readers and writers.

Online publishing platform Wattpad has provided the IP to numerous adaptations for streamer-led shows, including My Life With The Walter Boys for Netflix and Follow My Voice for Prime Video.

Its slate also includes Something’s Wrong in Stagtown, which is in development with Lucky Chap Entertainment.

Other changes within comic and IP outfit Webtoon see Yuki Chae named chief product officer, while Leah Goeun Yeon joins as its first chief business officer. Yeon will oversee Webtoon’s Korean and Rest of World webcomic platform business (excluding Japan), leading growth, marketing, content, and creator management.

Teo Taeyeong Jang has been upped to become head of AI and Sean Shinhyung Kim is now head of IP business.

All roles report to Kim, who said: “After 20 years of transforming storytelling and entertainment, our full global potential is within reach, and this is a moment where we must evolve and innovate more than ever.

“We’re making bold changes to sharpen execution and move faster as an aligned global organisation. We’re not done evolving, and we’re not slowing down.”