LG appoints new CEO
LG has hired a new CEO to lead their electronics business. From December 1, William Cho, the company's chief strategic officer, will replace current CEO Bong-seok Kwon. News Engadget.
According to The Korea Herald, Kwon will lead the main holding company of LG. Cho has been with LG Electronics since 1987. He has previously served as President of LG Canada, LG Australia and LG USA, respectively.
Cho is taking charge at a time when LG Electronics is not in a convenient position. LG closed its mobile division last July after failing to make a profit in 23 consecutive quarters. LG Electronics is currently well known for its televisions and monitors. But there is also stiff competition with Chinese companies, including Samsung.
LG has recently reshuffled several executives in order to survive in a competitive market and adopt new strategies. Ik-hwan Zhang is likely to be in charge of the company's business solutions unit. He is in charge of the IT business portfolio.
