LG has named a new CEO for its electronics division, which will occupy the position this week: next December 1. He is the one who until now was the Head of Strategy at LG, William Cho, who will succeed Bong-seok Kwon. Kwon will not leave the company far from it, but will be in charge of taking over the main holding of LG companies.
William Cho has worked for LG since 1987, and prior to his current position, he has been the President of LG Canada, and then successively of LG Australia and LG United States. This new position means that he will have to take the reins of LG Electronics at a point that the company considers to be a turning point for LG Electronics. It was only a few months ago that it decided to shut down its mobile division after failing to make a profit for 23 consecutive quarters.
Today, LG Electronics is best known for its televisions and monitors, but they don’t have it easy. In both cases, the company faces fierce competition from Samsung, as well as from other Chinese competitors, who are growing strongly in Asia, and some also in other regions of the world.
The change of CEO at LG Electronics is not the only renewal of directors that LG has made. Besides, the Group Business Solutions division will also feature a change in his dome: Ik-hwan Jang he will be the one who occupies the highest position in the division from now on. He will also be from now on one of the group’s executive vice presidents. Until this appointment was confirmed, Jang was responsible for overseeing LG’s IT business portfolio, a position in which he helped LG make a name for itself in the monitor industry.
Another vice president, Eun Seok-hyun, will be responsible for LG’s Vehicle Component Solutions division. What’s more, Kim Byoung-hoon to be LG’s new CTO. He is currently the Head of the Technology Center of the Future of LG, and in addition to CTO he will also be the leader of Communication and Information Technology of LG.
This appointment has brought about several almost immediate changes. Thus, LG’s Purchases and Mergers Department has been reorganized and upgraded to the category of the company’s main divisions. In addition, without details or plans having been disclosed, more resources have been allocated to him.
In addition, the group’s Customer Satisfaction Management Center has also undergone a reorganization, and will now be LG’s Customer Value Innovation Office. With this new structure, the group’s management seeks to help LG to «accelerate your digital transformation process in terms of customer experience«, For which it will also raise its Department of Artificial Intelligence and Big Data to division level.
