April 25, 2024
The Boardroom
LG Electronics switches to single CEO structure
[THE INVESTOR] LG Electronics revamped its top management structure on Dec. 1, shifting from the present framework of three co-CEOs to leadership by one top manager.
Jo Seong-jin, 60, head of LG’s home and appliance business division, has been appointed chief executive and promoted to vice chairman, the company announced in a statement.
Jo, a high school graduate who joined LG Electronics in 1976, was credited with helping the home appliance business post healthy profits at a time when its smartphone business suffered prolonged losses. It is the first time that a high school graduate has become a vice chairman of LG, company officials said.
The head of LG’s smartphone division, Cho Juno, has retained his post.
LG either promoted or reassigned 58 executives in the reshuffle in a response to the global downturn and in a move to reinvigorate the company.
Meanwhile, the holding company of LG Group and LG decided to expand the role of Vice Chairman Koo Bon-joon, to make the group’s affiliates more competitive.
Koo is the younger brother of LG Group Chairman Koo Bon-moo. LG said the expansion of Vice Chairman Koo’s role is aimed at increasing affiliates’ competitiveness at a time when the global economy is slowing and external uncertainties are growing. LG’s Executive Vice President, Koo Kwang-mo, son of Chairman Koo, has retained his post.
(theinvestor@heraldcorp.com)
Jo Seong-jin, 60, head of LG’s home and appliance business division, has been appointed chief executive and promoted to vice chairman, the company announced in a statement.
Jo, a high school graduate who joined LG Electronics in 1976, was credited with helping the home appliance business post healthy profits at a time when its smartphone business suffered prolonged losses. It is the first time that a high school graduate has become a vice chairman of LG, company officials said.
The head of LG’s smartphone division, Cho Juno, has retained his post.
LG either promoted or reassigned 58 executives in the reshuffle in a response to the global downturn and in a move to reinvigorate the company.
Meanwhile, the holding company of LG Group and LG decided to expand the role of Vice Chairman Koo Bon-joon, to make the group’s affiliates more competitive.
Koo is the younger brother of LG Group Chairman Koo Bon-moo. LG said the expansion of Vice Chairman Koo’s role is aimed at increasing affiliates’ competitiveness at a time when the global economy is slowing and external uncertainties are growing. LG’s Executive Vice President, Koo Kwang-mo, son of Chairman Koo, has retained his post.
(theinvestor@heraldcorp.com)
