LG has announced that the company is switching up key executive appointments with aim to strengthen the company as we prepare to head into 2016. There will now be representative directors who will lead each division within LG - Jo Seong-jin, President and CEO of Home Appliances & Air Solutions; Juno Cho, President and CEO of Mobile Communications; and David Jung, President and CFO.
What this means for LG's companies is flexibility and independence in 2016. It's hoped that Home Entertainment, Mobile Communications, Home Appliance & Air Solution, and Vehicle Components head David Jung will take on the new role of Corporate Business Administration Officer and will oversee overseas sales, as well as marketing, and more.
Lee Sang-bong, current head of the LG Business Center, will be promoted to president. His old position will be fulfilled by Global Sales and Marketing Officer Wayne Park. These changes will take effect on January 1. It's the latest move by the company to better prepare itself to be more competitive in covered markets.
LG ELECTRONICS ANNOUNCES KEY LEADERSHIP CHANGES TO ENHANCE FLEXIBILITY AND DECISION-MAKING FOR 2016
SEOUL, Nov. 26, 2015 — LG Electronics (LG) today announced key executive appointments designed to further strengthen the company as it enters the new year. Leading the global corporation will be three veteran executives who will oversee every aspect of LG Electronics' business. The new leadership structure of LG Electronics is designed to give each executive more independence and responsibility to facilitate rapid decision-making in today's fast-changing business environment and diversified consumer segments.
The three Representative Directors1 of LG Electronics are: Jo Seong-jin, President and CEO of Home Appliances & Air Solutions; Juno Cho, President and CEO of Mobile Communications; David Jung, President and CFO. Current Vice Chairman and CEO Koo Bon-joon will rejoin the leadership team at LG Electronics' parent company, LG Corp.
The new structure will also give each of LG's four companies — Home Entertainment, Mobile Communications, Home Appliance & Air Solution and Vehicle Components — more autonomy to respond quickly and decisively to market conditions and business growth opportunities. Complementing LG's ongoing leadership in televisions, mobile devices and appliances, high-growth areas such as automotive components, energy, IT and B2B are expected to drive more of LG's growth going forward.
As part of his responsibility, David Jung will also take on the new role of Corporate Business Administration Officer where he will oversee overseas sales and marketing, global production and quality management as well as continuing to lead the office of the CFO.
Executive Vice President Lee Sang-bong, head of the LG Energy Business Center, will be promoted to President and will take on an expanded role as B2B (business-to-business) Officer, overseeing all of LG's commercial sector business, which includes professional displays, commercial air conditioning systems and energy solutions.
Global Sales and Marketing Officer Wayne Park will assume the new title of Executive Vice President and Head of LG's European Operations. Executive Vice President Brian Na will be responsible for LG's Overseas Sales and Marketing, overseeing 47 LG sales subsidiaries worldwide.
All appointments are effective as of Dec. 1, 2015 with promotions taking effect on Jan. 1, 2016. The overall new organizational structure will take effect once confirmed at the general meeting of shareholders in early 2016.
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