LS Electric Appoints Vice President Gudoonghui as Inside Director... Full-Scale Start of 'Third-Generation Management'

Appointed at the Regular General Meeting on the 28th... Three Co-CEOs System
Fuel Cells Added to Company Business Objectives

LS Electric has appointed Koo Dong-hwi, Vice President of Vision Management and the 'third generation LS owner,' as an inside director.

On the 28th, LS Electric announced that Koo Dong-hwi, Vice President of Vision Management, was appointed as an inside director at the 49th regular shareholders' meeting held at LS Tower in Anyang, Gyeonggi Province. Vice President Koo is expected to be appointed as CEO after going through procedures such as the board of directors.

Koo Ja-kyun, Chairman of LS Electric, is giving a greeting speech at the 49th Annual General Meeting of Shareholders held on the 28th at LS Tower in Anyang, Gyeonggi Province.
[Photo by LS Electric]

Koo Dong-hwi, the only son of Koo Ja-yeol, Chairman of the LS Board of Directors (former Chairman of LS Group), was born in 1982. After working at Woori Investment & Securities, he joined LS Electric as a deputy general manager in 2013. After being promoted to an executive at the end of 2016, he moved to LS Corporation in 2019, and from 2021 until last year, he served as Executive Director at E1. Last year, he served as CEO of the New Growth Business Division, leading new business development at E1. Recognized for his achievements in new businesses such as renewable energy, he was promoted to Vice President as of January 1 this year and transferred to LS Electric.

With this, LS Electric will shift from a dual CEO system consisting of Chairman Koo Ja-kyun and Kim Dong-hyun, Vice President in charge of ESG (Environment, Social, and Governance), to a triple CEO system.

Additionally, LS Electric passed a shareholders' meeting agenda to amend its articles of incorporation to include the fuel cell business as a business purpose. Fuel cells are power generators that produce electricity through the chemical reaction of hydrogen and oxygen and are gaining attention as an eco-friendly power source.

Furthermore, other agendas such as ▲approval of financial statements ▲reappointment of outside director Choi Jong-won ▲new appointments of outside directors Kim Jae-hong and Jang Gil-soo ▲approval of the director remuneration limit were also resolved.