LG INITIATES ORGANIZATIONAL CHANGES TO ENHANCE STRENGTHS AND OPPORTUNITIES
LG INITIATES ORGANIZATIONAL CHANGES
TO ENHANCE STRENGTHS AND OPPORTUNITIES
Higher Priority for Robot and Autonomous Vehicle Businesses,
Brings Mobile Businesses Under Leadership of Turnaround Expert
SEOUL, Nov. 28, 2018 — LG Electronics (LG) today announced the key changes to its organization in an effort to enhance its strengths and more vigorously address the challenges ahead. In addition to leadership changes, LG is also focusing on structural changes that will positively affect the day-to-day duties of the CEO and other key executives.
Brian Kwon, currently president of LG’s Home Entertainment Company, will also assume leadership of the Mobile Communications (MC) Company. Mr. Kwon played a critical role in transforming LG’s TV, audio and PC business into category leaders and his knowledge and experience in the global marketplace will be instrumental in continuing LG’s mobile operations turnaround. Current MC Company president Hwang Jeong-hwan, who was brought in a year ago and successfully bolstered the operation’s quality assurance and product development efficiency, will focus fully on his other role as head of LG’s Convergence Business Development Office.
Under the new structure, LG Electronics CEO Jo Seong-jin will focus more on strategy and planning for the future by assigning more of his day-to-day responsibilities to president and CFO David Jung. Mr. Jung will take over responsibility for LG’s business support operations from the CEO which includes supervision of the company’s support operations at all Korean facilities as well as functions such as corporate security and communications.
To enhance its successes in the commercial sector by focusing additional resources on finding solutions, the Vehicle Components Company will be renamed the Vehicle Component Solutions (VS) Company and the Business-to-Business Company will become the Business Solutions (BS) Company going forward. Executive vice president Kim Jin-yong, who heads the Vehicle Components Company’s fast-growing smart business efforts in intelligent driving and vehicle connectivity, will assume the role of president of the newly expanded VS Company.
All new appointments and assignments are effective as of December 1, 2018.
About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing 77,000 people working in 125 locations around the world. With 2017 global sales of USD 55.4 billion (KRW 61.4 trillion), LG comprises five business units ― Home Appliance & Air Solutions, Home Entertainment, Mobile Communications, Vehicle Components and B2B ― and is one of the world’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. For more news and information on LG Electronics, please visit www.LGnewsroom.com.
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