LG appoints new CEO to lead its beleaguered electronics division
LG has appointed a new CEO to lead its electronic business. Starting December 1, William Cho Chief Strategy Officer will take over for Bong-Seok Kwon as the CEO of LG Electronics. Meanwhile, according to Korea Herald, Kwon will go to the main parent company LG. Cho has been with LG Electronics since 1987. Before his latest role, he served as President of LG Canada, and then had the same role in LG Australia and LG USA.
Cho will take control of LG electronics at the inflection point for the company. Recently closed his cellular division in July after the unit failed to produce profits in 23 consecutive quarters. At this point, LG Electronics may be famous for its TV and monitors, but there also faced intense competition from Samsung and various Chinese competitors.
However, Cho will get help from a handful of executives the company has raved to a new position. Especially, there are IK-Hwan Jang that will take the top position in the company’s business solution unit. Jang has recently been responsible for overseeing the IT business portfolio where it helps LG into a power plant in the monitor room.
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