LG has decided to hold a substantial personnel changes in the management team. According to the initiators of the restructuring, it is to make individual units more autonomy in decision-making, which is especially important in the rapidly changing market conditions.
For household appliances division will be headed by Cho Jin Son, mobile devices will manage Cho Juno , and President and Chief Financial Officer LG Electronics will be David Yoon . The outgoing CEO and Vice Chairman of LG Electronics Koo Bon-jung will go to the parent company LG Corp, which received one of the leadership positions.
New appointments should come into force the first of December, the whole process of team management restructuring will be completed in early 2016 after the general meeting of shareholders. It is hoped that LG measures will prove effective enough.