LG announces changes in its mobile business

LG announces changes in its mobile business

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South Korean electronics giant LG Electronics announced a reshuffle of the company’s top personnel on November 27, 2013. Mobile chief Park Jong-seok has been promoted to president and has replaced the TV chief Kwon Hee-won.

LG

The company released a statement which said that it has promoted 44 employees, including three new presidents, three executive vice presidents, eleven senior executives and 27 executives. The chief financial officer of the firm, Jeong Do-hyun was also promoted to president, while Ha Hyeon-hoe was named the president of the home entertainment unit – which handles television business – by the company’s CEO Koo.

The statement from the company said, “Park has significantly helped LG improve its smartphone business by successfully launching market-leading products like Optimus G-branded mobile devices.” The statement went on to say that the CFO Jeung is responsible for securing investment budgets for future businesses, as well as developing the most important management systems.

Meanwhile, the replacement of the TV chief was not really expected, as the outgoing president Kwon has done well, despite challenging situations on the market, caused by the increased popularity of smartphones and tablets. LG is considered as the world’s number 2 producer of televisions. An official from LG Electronics TV said that the smartphone business of LG is facing major challenges which need to be handled in 2014.

Photo Credits: Beta News