LG: key leadership changes to enhance flexibility and decision-making for 2016

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LG Electronics announced key executive appointments designed to further strengthen the company. “Leading the global corporation will be three veteran executives who will oversee every aspect of LG Electronics’ business – the company explained in a official note -. The new leadership structure of LG Electronics is designed to give each executive more independence and responsibility to facilitate rapid decision-making in today’s fast-changing business environment and diversified consumer segments”. The three representative directors of LG Electronics are: Jo Seong-jin, president and CEO of Home Appliances & Air Solutions; Juno Cho, president and CEO of Mobile Communications; David Jung, president and CFO. Current Vice Chairman and CEO Koo Bon-joon will rejoin the leadership team at LG Electronics’ parent company, LG Corp. The company said that the new structure will also give each of LG’s four companies (Home Entertainment, Mobile Communications, Home Appliance & Air Solution and Vehicle Components) more autonomy to respond quickly and decisively to market conditions and business growth opportunities. As part of his responsibility, David Jung will also take on the new role of Corporate BusinessLG_LOGO_500 Administration Officer where he will oversee overseas sales and marketing, global production and quality management as well as continuing to lead the office of the CFO. Executive Vice President Lee Sang-bong, head of the LG Energy Business Center, will be promoted to president and will take on an expanded role as B2B Officer, overseeing all of LG’s commercial sector business, which includes professional displays, commercial air conditioning systems and energy solutions. Global Sales and Marketing Officer Wayne Park will assume the new title of Executive Vice President and Head of LG’s European Operations. Executive Vice President Brian Na will be responsible for LG’s Overseas Sales and Marketing, overseeing 47 LG sales subsidiaries worldwide. All appointments are effective as of December 1st, 2015 with promotions taking effect on January 1st, 2016. The overall new organizational structure will take effect once confirmed at the general meeting of shareholders in early 2016.