Expansion of Promotions in Battery, Home Appliances, Automotive Electronics, and Chemical Future Businesses
92% of New Executives Born After 1970... Youngest Born in 1983
R&D Executives Increased to 196, CX Center Established... Two Female CEOs Appointed
[Asia Economy Reporter Moon Chaeseok] LG Group announced on the 24th that it held board meetings for each affiliate and conducted executive appointments for the next year.
Focusing on 'future planning,' they selected and strategically positioned highly potential talents to strengthen growth momentum in businesses such as batteries, home appliances, automotive components, and chemicals. Notably, 92% of the new executives were born after 1970, emphasizing the infusion of 'young blood.'
Another notable point is the establishment of a 'CX (Customer Experience) Center' at LG Electronics to promote 'CX management' across the company, covering innovation, product, service, and business model planning.
Focus on 'Future Planning' Emphasized by Koo Kwang-mo
Ryu Jae-cheol, President of LG Electronics H&A (Home Appliance & Air Solution) Business Division. (Photo by LG)
LG Group explained that this personnel appointment focused on 'future planning,' as emphasized by Koo Kwang-mo, Chairman and CEO of LG Corporation. In a recent business report meeting with affiliate CEOs, Koo stated, "We must clearly define the future vision and goals of our business to enhance execution capabilities for future preparedness," and stressed, "No matter how difficult the situation, we must continuously invest in discovering and nurturing talents necessary for securing future competitiveness."
LG emphasized that talents were selected thoroughly from the perspective of 'future competitiveness' across fields including research and development (R&D), CX, production, purchasing, supply chain management (SCM), quality, and safety environment. Special attention was given to appointing 31 new executives in R&D, including software. Among the 114 new executives, 92% were born after 1970, focusing on future innovation.
First, promotions were made in LG Energy Solution, recognized as a top-tier company in the increasingly competitive global battery market, and LG Chem's Advanced Materials Business Division, which is growing battery material businesses such as cathode materials. For LG Electronics, talents capable of enhancing the world's number one home appliance business competitiveness and strengthening the automotive components (VS) business, which has endured for a long time and achieved a 'turnaround to profitability,' were selected. Next-generation leaders were actively appointed in high-growth affiliates such as LG Innotek and LG CNS to create additional growth momentum.
The Era of Presidents Ryu Jae-cheol, Cha Dong-seok, and Lee Jeong-ae
Considering the increased management uncertainty, LG Group mostly reappointed CEOs with rich business experience. However, Cha Seok-yong, who had led LG Household & Health Care as CEO since 2005 for 18 years, retired and handed over the position to successor CEO Lee Jeong-ae. Under his leadership, the company showed 17 consecutive years of growth, increasing sales ninefold and operating profit 22-fold.
Notably, Ryu Jae-cheol, head of the H&A (Home Appliance & Air Solution) Business Division, who led LG Electronics to become the 'world's number one home appliance company,' surpassing Whirlpool, was promoted to president. He was the key figure leading R&D and production of major products such as washing machines and refrigerators.
Cha Dong-seok, CFO and CRO of LG Chem, was also promoted to president. He is a finance expert with experience at LG Chem, LG Corporation, and Sub One, with abundant experience in mergers, acquisitions, and spin-offs. He is also highly regarded for his ability to enhance financial stability. New CEO Lee Jeong-ae of LG Household & Health Care is a veteran who has enhanced brand value through experience in cosmetics, household goods, and beverages.
'Young Blood' Forward Deployment... Establishment of CX Center
Following last year, more than 70% of this year's promotions were new executives. Among these new executives, 92% were born after 1970.
There are also executives in their 30s. The youngest executive is Woo Jeong-hoon, born in 1983, Senior Specialist (Executive Director) at LG Electronics. Woo was highly evaluated for leading data-driven digital transformation (DX), contributing to building data platforms, improving smart appliances, and enhancing the performance of the LG ThinQ app.
Regarding this, LG Group explained, "By boldly selecting and giving opportunities to competitive young talents, we aim to break away from inertia, drive strong business momentum, nurture mid- to long-term future entrepreneurs, and strengthen organizational dynamism."
A notable feature of this appointment is the addition of 31 new executives in R&D, including software, increasing the total number of R&D research executives across the group to a record high of 196. This decision aims to quickly respond to changes in advanced technology trends, develop pioneering technologies, and promote 'open innovation.'
They also secured talents and expanded organizations to materialize 'CX,' which Chairman Koo has continuously emphasized since his inauguration. Representative examples include establishing a CX Center at LG Electronics and medium-sized and large solution CX groups at LG Display.
It is also notable that LG Electronics appointed Jang Tae-jin, Executive Director in the CS (Customer Service) field, who directly faces customers. Jang is a problem solver who improved pain points experienced by local customers in the U.S., Mexico, India, and other regions. The number of CS executives, including Jang, increased from 3 in 2018 to 8. They also appointed 11 experts in quality and safety environment, essential for realizing CX values.
Two Female CEOs Appointed... Continued Talent Acquisition
It is also noteworthy that two female leaders with both competence and expertise were appointed as CEOs. Lee Jeong-ae, Vice President of Coca-Cola Beverage, was promoted to president and became CEO of LG Household & Health Care. Park Ae-ri, Executive Director of G2R, was promoted to vice president and appointed CEO. An LG Group official explained, "This is the first time among the 'Big 4' listed companies that a female professional CEO, excluding the owner family, has been appointed." The number of female executives increased to 64, more than double the 29 in 2018, the year Chairman Koo took office.
Separately from this appointment, 19 external talents were continuously recruited this year. Since 2018, 86 external talents have been recruited. Notably, Han Eun-jung, LG Electronics CTO and head of the AIX division in AI and big data, was recruited from Amazon.
Other new joiners include Jung Yun-ho, Senior Specialist Executive Director of LG CNS D&A Division from Pine Tree Partners; Jung Ki-hyun, Vice President and head of LG Electronics Platform Business Center, formerly Meta Korea representative; Cho Byung-ha, Executive Director in charge of LG Electronics HE (Home Entertainment) Platform Business, formerly head of Harman International Ecosystem Business; and Noh Ji-hye, Executive Director in charge of New Business Planning for Life Sciences at LG Chem, recruited from Hugel.
The detailed status of next year's group executive appointments is as follows.
◆LG Corporation
▶Lee Nam-jun, Head of Finance Team ▶Choi Ho-jin, Head of Secretariat Team
▶Yoon Chang-byeong, Executive Director LG Corporation → LG CNS
◆LG Electronics
▶Ryu Jae-cheol, Head of H&A Business Division
▶Kim Dong-su ▶Kim Young-rak ▶Eun Seok-hyun, Head of VS Business Division ▶Lee Cheon-guk ▶Lee Cheol-bae ▶Jung Kyu-hwang
▶Kim Yang-soon ▶Kim Jin-kyung ▶Park Sang-ho ▶Song Seong-won ▶Jung Pil-won ▶Choi Seong-bong ▶Hwang Won-yong
▶Kang Sung-jin LG Electronics → LG Corporation ▶Kang Jin-yong ▶Gong Seong-bae ▶Kwak Jeong-ho ▶Kwon Soon-wook ▶Kim Kyung-rak ▶Kim Il-wook ▶Kim Ju-yong ▶Kim Chan-soo ▶Kim Chang-min ▶Ryu An-dong ▶Moon Byung-heon ▶Park Dong-seon ▶Park Yong-ho ▶Park Jun-seong ▶Seo Dong-myeong ▶Son Jin-seok ▶Oh Sang-hoon ▶Oh Jae-yoon ▶Yoon Jong-hwa ▶Lee Gil-no ▶Lee Dong-hoon ▶Lee Sang-bong ▶Lee Jeong-doo ▶Lim Kwang-hoon ▶Lim Ki-yong ▶Jang Tae-jin ▶Jung Sang-ho ▶Jung Yeon-wook ▶Jo Bong-su ▶Jo Cheong-dae ▶Choi Bong-hyun ▶Choi Hwal-su ▶Han Chang-hee ▶Heo Jeong-ho ▶Hwang Geum-sik ▶Hwang Won-jae
▶Kim Young-jae ▶Seo Han-byeol
▶Woo Jeong-hoon
▶Lee Jae-woong, Vice President LG Electronics → LG Uplus
◆LG Display
▶Kim Kwang-jin ▶Park Jin-nam ▶Lim Seung-min
▶Kang Yoon-seon ▶Kim Dong-hee ▶Kim Byung-hoon ▶Sung Nak-jin ▶Oh Jun-tak ▶Lee Ki-sang ▶Lee Seok-hyun ▶Jang Jae-won ▶Jeon Woong-gi ▶Jo Heung-ryeol ▶Hwang Sang-geun
◆LG Innotek
▶Noh Seung-won ▶Jo Ji-tae
▶Kim Chang-hyun ▶Shin Deok-am ▶Lee Il-gwan LG Electronics → LG Innotek ▶Lee Jung-se ▶Jo Baek-su ▶Hong Seong-il ▶Hong Seung-man
▶Kim Su-hong
▶Kim Heung-sik, Vice President CHO LG Innotek → LG Energy Solution ▶Yoon Seok, Managing Director LG Innotek → LG CNS
◆LG Chem
▶Cha Dong-seok, CFO and CRO
▶Lee Hyang-mok
▶Kim Dong-chun ▶Park Hee-sul ▶Sun Woo Ji-hong ▶Song Byung-geun ▶Lee Hwa-young ▶Choi Young-min
▶Kwak Sang-jin ▶Kim Kyung-seok ▶Kim Dong-ho ▶Kim Seong-duk ▶Kim Woo-sung ▶Kim Hee-seok ▶Park Yang-tae ▶Byun Ki-dae ▶So Jin-eon ▶Shin Young-cheol ▶Choi Byung-chul ▶Hwang In-cheol
▶Kang Dong-gyun
◆LG Energy Solution
▶Kim Dong-myeong, Head of Automotive Battery Business Division
▶Park Jin-won LG Energy Solution → LG Management Research Institute ▶Seo Won-jun ▶Shin Young-jun ▶Lee Chang-sil, CFO and CSO ▶Choi Seok-won
▶Son Chang-wan ▶Lee Jang-ha ▶Jo Ji-hoon
▶Kim Ki-tae ▶Kim Byung-soo ▶Kim Jin-kyung ▶Park Cheol-hee ▶Son Chun-gi ▶Song Mu-gang ▶Eom Hyun-gyu ▶Lee Dal-hoon ▶Lee Jong-min ▶Jang Seong-hoon LG Energy Solution → LG Corporation ▶Jung Wang-mo ▶Jung Ha-sang ▶Jung Hoe-guk ▶Jo Sang-yeon ▶Choi Yoo-ra ▶Han Dong-hoon
▶Kim Seok-gu ▶Na Gyun-il ▶Ryu Deok-hyun
▶Choi Eun-ah
▶Kim Ki-soo, Executive Director CHO LG Energy Solution → LG Innotek ▶Song Chan-gyu, Managing Director LG Energy Solution → LG Electronics
◆LG Household & Health Care
▶Lee Jeong-ae, CEO
▶Oh Sang-moon
▶Ha Ju-yeol LG Household & Health Care → LG Corporation
▶Kwon Soon-mo, Managing Director LG Household & Health Care → LG Management Development Institute
◆Farm Hannong
▶Kim Mu-yong, Executive Director, CEO
◆LG Uplus
▶Kwon Jun-hyuk
▶Kang Bong-su ▶Kang Jong-il ▶Park Hyung-min ▶Jang Jun-young ▶Jung Sook-kyung ▶Jung Ha-jun
▶Kim Beom-soon, Executive Director LG Uplus → LG Innotek ▶Lee Jae-won, Executive Director LG Uplus → LG Corporation ▶Lee Cheol-hoon, Executive Director LG Uplus → LG Electronics ▶Ahn Jae-yong, Managing Director LG Uplus → LG HelloVision
◆LG HelloVision
▶Son Ki-young ▶Lim Seong-won ▶Hong Won-duk
▶Lee Min-hyung, Managing Director LG HelloVision → LG Sports
◆LG CNS
▶Hyun Shin-gyun, Vice President, CEO
▶Kim Sun-jung ▶Kim Tae-hoon ▶Park Sang-gyun ▶Park Ji-hwan, CFO
▶Kim Ji-wook ▶Song Young-seok ▶Ahn Hyun-jung ▶Lee Kyung-hoon LG CNS → LG Uplus ▶Lee Jae-seung ▶Hong Jin-heon
▶Kwon Moon-soo ▶Song Hye-rin
◆D&O
▶Son Hyun-soo ▶Lee Young-ho D&O → D&O CM
◆G2R
▶Park Ae-ri, CEO
▶Han Sung-ho
◆Sports
▶Jung Tae-jin Sports → LG Corporation
◆LG Management Development Institute
▶Lee Won-cheol, Managing Director LG Management Development Institute → LG Electronics
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