LG Household & Health Care Appoints President Lee Jeong-ae as New Inside Director

On the morning of the 28th, LG Household & Health Care held the 22nd Annual General Meeting of Shareholders at the LG Gwanghwamun Building in Jongno-gu, Seoul, and appointed President Lee Jeong-ae as a new inside director.

Immediately following the Annual General Meeting, LG Household & Health Care held a board meeting and newly appointed President Lee Jeong-ae as the CEO. Professor Kim Jae-hwan of Korea University Business School was newly appointed as an outside director and a member of the Audit Committee.

Lee Jeong-ae, newly appointed inside director of LG Household & Health Care [Photo by LG Household & Health Care]

At the Annual General Meeting, LG Household & Health Care approved four agenda items as originally proposed: ▲ Approval of the financial statements for the 22nd fiscal year ▲ Appointment of directors ▲ Appointment of Audit Committee members ▲ Approval of the limit on directors' remuneration.

Dividends were approved at 4,000 KRW per common share and 4,050 KRW per preferred share in cash dividends. LG Household & Health Care's consolidated sales for 2022 amounted to 7.1858 trillion KRW, a decrease of 11.2% compared to the previous year, and operating profit was 711.1 billion KRW, down 44.9% year-on-year.

Kim Hong-gi, Vice President and Chief Financial Officer of LG Household & Health Care, who presided over the meeting, said in his opening remarks, "Last year, we faced difficulties due to unexpected market variables, and the global economic downturn continues, making it difficult to expect a favorable business environment. However, we will respond to market and customer changes by strengthening our brand portfolio and enhancing digital and customer experience capabilities. We will also focus on securing competitiveness by expanding our businesses in China, North America, and Japan, and strengthening our capabilities in Southeast Asia, thereby creating a year that repays the trust of our shareholders."