LG Household & Health Care Appoints Lee Jeong-ae as New CEO

On the morning of the 28th, LG Household & Health Care held its 22nd regular general meeting of shareholders at the LG Gwanghwamun Building in Jongno-gu and newly appointed President Lee Jeong-ae as an inside director.

[Image source=Yonhap News]

Immediately after the general meeting, LG Household & Health Care held a board meeting and newly appointed President Lee as the CEO. Professor Kim Jae-hwan of Korea University Business School was newly appointed as an outside director and member of the audit committee. The director remuneration limit (8 billion KRW) was also approved.

At the general meeting, LG Household & Health Care's consolidated sales for last year were confirmed at 7.1858 trillion KRW, down 11.2% from the previous year, and operating profit was 111.1 billion KRW, down 44.9%. Dividends were approved at 4,000 KRW per common share and 4,050 KRW per preferred share in cash dividends.

Kim Hong-gi, CFO of LG Household & Health Care, said in his greeting at the general meeting, "There were difficulties due to unexpected market variables last year, and the global economic downturn continues," adding, "We will strengthen our brand portfolio and expand our business in China, North America, Japan, and Southeast Asia."