LG Electronics announced organizational changes to take another leap forward towards achieving the Future Vision 2030 communicated in July. The changes are being implemented to strengthen organizational capabilities and business competitiveness to realize the vision of transforming into a Smart Life Solution Company. A key piece of the strategy is the newly-established Overseas Sales and Marketing Company, which will report directly to LG CEO William Cho. The company will be led by Thomas Yoon, who previously served as the president and CEO of LG Electronics North America. “The Overseas Sales and Marketing Company – LG explains – will play a crucial role in accelerating change and growth as well as enhancing LG’s global brand power by discovering and developing opportunities to create customer value. The new organization will manage overseas sales subsidiaries in North America, Europe, the Middle East and Africa, Latin America and Asia; Global Marketing Group; and the Direct-to-Consumer (D2C) Sales Business Group. The company will not only seek to strengthen executive capabilities in the overseas operations of strategically critical businesses including B2B operations, but also provide necessary support to bolster qualitative growth of all other business units by aiding the development of overseas sales expertise as well as accelerating the advancement of platform-based businesses and innovative D2C business models. The D2C Business Group will take on the role of expanding customer contact points by strengthening Online Brand Shop (OBS) activities and customer data-based digital marketing capabilities. While maintaining its agile and responsive decision-making system across all four business units, LG will aim to spur further development of original technologies in each business unit and support the company’s business transformation”.
As regards to the Home Appliance & Air Solution Company, it will establish an engineering sales division under the Air Solution Business to enhance the engineering capabilities to maximize business synergy in heating, ventilation and air conditioning (HVAC). In addition, the Home Beauty Business will be transferred from the Home Entertainment Company to the H&A Company.
