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Wednesday, November 27, 2013
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Major Executive Shake-up For LG
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LG Electronics (LG) today announced 44 executive appointments, among them new TV and smartphone chiefs.
LG Electronics Chief Executive Koo Bon-joon has promoted its mobile chief Park Jong-seok to president and replaced TV chief Kwon Hee-won in Wednesday's reshuffle of top brass.
New positions are effective December 1, 2013 with promotions taking effect on January 1, 2014.
Dr. Jong-seok Park, head of LG's Mobile Communications (MC) company, has been promoted to the title of President of LG Electronics. Dr. Park will continue in his role as President and CEO of LG's mobile unit where he oversaw the development of the LG G2, Nexus 5 and G Flex smartphones.
Long-time LG Display executive Hyun-hoi Ha was promoted to President of LG Electronics and will take on a new role as President and CEO of LG's Home Entertainment company. Mr. Ha has been with LG for 28 years, much of that time at LG Display where he held various positions in sales and product planning before assuming his most recent position as Executive Vice President in LG Corporation where he was responsible for bringing together the various LG companies.
Executive Vice President and CFO David Jung was promoted to the title of President of LG Electronics and will continue in his role as the company's CFO. Mr. Jung, joined LG in 1983 and was appointed LG Electronics' Chief Financial Officer in 2008 after holding leadership roles in LG Corp. and LG International.
Wayne Park, head of LG Electronics USA since 2009, will be returning to Seoul to assume the position of Global Sales and Marketing Officer. Previously, Mr. Park was head of LG Electronics Korea marketing, President of LG Canada and Vice President of Zenith Electronics LLC, among other positions.
The replacement of the TV chief was not expected because outgoing president Kwon has fared well despite challenging market situations caused by the rise of smartphones and tablets. LG is the world?s No. 2 producer of televisions.
On the other hand, LG?s smartphone business faces big challenges that need to be addressed next year.
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