LG Drops Business Division
LG's U.S. management shakeup yesterday, in which Wayne Park replaced James Shad as U.S. president and Jay Vandenbree was promoted to head of the company's domestic home entertainment business unit, is accompanied by changes in the parent company's operation in Seoul.
According to the Wall Street Journal, LG Electronics will drop its business-solutions unit, while devoting further energies to advanced technologies. The company's four remaining divisions are home entertainment, home appliance, air-conditioning & energy solution and mobile communications.
“To give more emphasis to individual products, the business solutions company will be dissolved, with the monitor and solution business units transferring to the home entertainment company,” LG said in the statement issued to several news organizations.