From December 1st, South Korean giant LG will replace current CEO Bong-Seok Kwon with Chief Strategy Officer William Cho.
The new CEO will be in charge of the company’s electronics sector, while Kwon will be in charge of the company’s primary holdings, according to reports. William Cho joined LG in 1987 and has been the company’s Chief Security Officer since 2019. Cho was the president of LG North America and was in charge of the LG Business Incubation Center’s development.
Cho will lead the company at a pivotal juncture in its development. LG sold its mobile operations in July after failing to produce a profit for 23 quarters in a row. LG Electronics is well known for its television sets and monitors, where it competes with Samsung, SONY, and a number of other Chinese manufacturers.
Of course, the new CEO will be backed up by executives who have been shifted into new positions and have years of expertise.
Ik-hwan Jang, who will shortly join a key position in the Business Solutions division, is the most notable of these executives. Jang was formerly in charge of LG’s IT division, where he played a key role in the company’s rise to prominence in the monitor market.
Kim Byoung-hoon, the director of the Future Technology Center, will be promoted to CTO and will also be in charge of the Information and Communication Technology division.
LG’s management shuffle aims to launch changes within the company by focusing more on customer value while boosting the company’s continued growth and expansion.