LG Electronics Appoints Kwon Bong-seok and Bae Doo-yong as Co-CEOs

[Asia Economy Reporter Dongwoo Lee] LG Electronics announced on the 26th that it held a board meeting and appointed CEO Kwon Bong-seok and CFO Bae Doo-yong as co-CEOs.

Each co-CEO will exercise the authority of a CEO. Compared to joint CEOs, co-CEOs have guaranteed autonomy, allowing them to make swift decisions based on their expertise in their respective fields.

LG Electronics stated that CEO Kwon Bong-seok will focus on strengthening the competitiveness of existing businesses while leading the company's digital transformation and securing new growth engines.

Co-CEO Bae Doo-yong will serve as the chief officer responsible for financial matters amid increasing global economic uncertainties, leveraging his expertise in accounting, taxation, and trade.

Earlier on the same day, at the 18th LG Electronics Annual General Meeting held at the LG Twin Towers in Yeouido, Seoul, an amendment to the articles of incorporation was approved to add "telecommunication sales and e-commerce related business" to the company's objectives.

This is to promote a new business model that sells or intermediates food, detergents, and other products used with home appliances such as microwave ovens and washing machines through the LG ThinQ app.

This content was produced with the assistance of AI translation services.