In a statement published overnight here in the United States, LG Electronics announced major key organizational changes. The personnel and business segment moves were made in an effort to enhance the consumer electronics manufacturer’s strengths, and “more vigorously address the challenges ahead,” LG explained in a statement. Further, the moves announced are intended to positively impact the day-to-day duties of LG’s CEO and other key executives.
Summarized, LG said that the shifting organizational structure will help place a higher priority on the company’s robot and autonomous vehicle business, while placing the mobile business unit under the leadership of a “turnaround expert.”
Diving into the specific changes, LG said that Brian Kwon, currently their president of the LG Home Entertainment Company will transition into a leadership role at the Mobile Communications Company. LG said that Kwon played a critical role in transforming the company’s TV, audio, and PC business into category leaders, and they expect that his knowledge and experience in the global marketplace will help their mobile business more aggressively improve. As a result of the move, the current Mobile Communications Company president, Hwang Jeong-hwan will focus fully on his other role as the head of LG’s Convergence Business Development Office, the company said.
Under the new structure, LG Electronics CEO Jo Seong-jin, who recently helped lead a keynote at IFA 2018, will be able to focus more on strategy and planning for the company’s future by assigning more of his day-to-day responsibilities to president and CFO David Jung, LG explained. Jung will take responsibility for LG’s business support operations, which includes supervision of LG’s support operations at all Korean facilities as well as functions such as corporate security and communications.
Additionally, LG announced that the Vehicle Components Company will be renamed the Vehicle Component Solutions Company, and the Business-to-Business Company will be renamed the Business Solutions Company going forward. Kim Jin-yong, the current Executive Vice President of the Vehicle Components Company will rise to the role of President of the newly expanded VS company. These changes, LG said, will help enhance the “successes in the commercial sector” by focusing additional resources on finding and developing solutions.
All new appointments and assignments will become effective as of December 1, 2018.