LG Electronics hopes to boost its ailing mobile business under the new leadership of Vice Chairman and CEO Jo Seong-jin.

The firm announced the management reshuffle on Thursday, eliminating its previous triple-CEO structure and promoting Jo as sole CEO.

He has been head of the home appliance and air solution (H&A) unit since 2013, having been noted for his crisis management ability and innovative mindset.

The H&A division reported a 1.19 trillion won ($1.1 billion) combined operating profit from the first to third quarters this year, up more than 25 percent from a year ago.

The management reshuffle came at a critical time with its mobile communication (MC) division posting weak earnings in recent quarters.

LG believes the new management system can give fresh momentum to its ailing mobile business, helping the unit possibly post a turnaround next year. LG's MC division has reported an operating loss for six consecutive quarters since the April-June quarter last year.