LG Shuffles Mobile Execs Following $331 Million Loss
LG has had a rough go of it lately — and that’s putting it mildly. Even breakout hits like the V30 couldn’t keep the Seoul, South Korea-based company’s mobile division from losing $331 million in the past fiscal quarter. But after successive reorganizations and a renewed focus on reducing manufacturing costs, LG’s finally ready to get back in gear. The first order of business? Appointing Hwang Jeong-hwan president and CEO of the Mobile Communications arm.
The promotion comes almost a year in Jo Seong-jin’s tenure as Mobile Communications president. Mr. Seong-jin, a 40-year veteran of the company who previously headed LG’s home appliance division, failed to turn things around as quickly as company brass would’ve liked, and was replaced by Juno Cho, the current president. Mr. Cho will take on a new, unannounced role within LG’s parent company when Mr. Jeong-hwan steps in.
LG’s upper management has a lot of faith in Mr. Jeong-hwan, and not without good reason. He has years of experience in the company’s research and development department, and was closely involved in developing one of Mobile Communications division’s first smartphones in 2009.
Mr. Jeong-hwan isn’t the only executive taking on a new role. Dr. Park Il-pyung, who was previously the head of LG’s Software Center, will become Chief Technology Officer. The previous CEO, Dr. Skott Ahn, will move into a brand-new division at LG’s headquarters in Seoul. Han Chang-hee, who was most recently vice president of the Appliance Marketing Communications division, will lead the company’s Global Marketing Center. And Brian Na, who previously led LG’s communications efforts, will assume the role of president of LG’s Western Europe operations.
Source: LG Newsroom