LG has moved to a single CEO structure.

LG has promoted the head of its home appliances division, Jo Seong-jin, to vice chairman and CEO of the company. A forty-year veteran of LG, Seong-jin was pivotal in turning the South Korean manufacturer's fortunes in the home appliances segment. As CEO, Seong-jin will oversee all of LG's business units — including its mobile arm — as the company gets ready for a challenging 2017.

From LG:

Mr. Jo (60), joined Goldstar in 1976, becoming part of the team which developed LG's first automatic washing machine in 1980. Prior to becoming president of the H&A Company in 2015, Mr. Jo was the head of LG's H&A washing machine division. In 2007, Mr. Jo received the Bronze Tower Order of Industrial Service Merit from the Korean government in recognition of his valuable contributions to the development of new technologies and Korean industry.

More recently Mr. Jo was instrumental in LG's move into premium appliances with the introduction of the LG SIGNATURE brand and built-in Signature Kitchen Suite as well as building the foundation for future businesses in the areas of IoT and smart homes.

A total of 58 executives were promoted as part of a larger reshuffle.