LG Electronics to Hold Extraordinary General Meeting on January 7 Next Year... Proposal to Appoint Kwon Bong-seok and Cho Joo-wan as Directors

Kwon Bong-seok, President of LG Electronics, promoted to Vice Chairman and Chief Operating Officer (COO) of LG Corporation (left), and Cho Joo-wan, Vice President and Chief Strategy Officer (CSO), promoted to President of LG Electronics
[Photo by LG Electronics]

[Asia Economy Reporter Kim Heung-soon] LG Electronics announced on the 25th that it held a board meeting and decided to hold an extraordinary general meeting of shareholders to appoint directors on January 7 next year at 1 p.m. at the Yeouido Twin Towers in Seoul.

At the extraordinary general meeting, one inside director and one other non-executive director will be appointed respectively. The inside director to be appointed is Jo Joo-wan, Vice President and Chief Strategy Officer (CSO) of LG Electronics, who was promoted to President in the regular executive personnel announcement made that day.

The other non-executive director is Kwon Bong-seok, President and Chief Executive Officer (CEO) of LG Electronics. President Kwon was promoted to Vice Chairman that day and appointed as Chief Operating Officer (COO) of LG Corporation.

LG Electronics stated, "To enhance the stability of board operations, we decided to appoint the recently vacant director early."

Meanwhile, LG Corporation also decided to hold an extraordinary general meeting of shareholders on the same day to appoint Vice Chairman Kwon as an inside director. If Vice Chairman Kwon is appointed as an inside director at the extraordinary general meeting, a procedure to discuss the agenda for appointing the CEO through the board of directors will proceed.