LG Transitions to Sole CEO Structure with Chairman Koo Kwang-mo; CEO Kwon Young-soo Resigns
[Asia Economy Reporter Jeong Hyunjin] LG Group transitioned to a sole representative system under Chairman Koo Kwang-mo on the 10th.
LG announced through a disclosure of change in CEO that with Vice Chairman Kwon Young-soo stepping down, Chairman Koo will serve as the sole CEO. This change follows Vice Chairman Kwon's move to become CEO of LG Energy Solution on the 1st.
Vice Chairman Kwon is also expected to resign from his internal director positions at major LG Group affiliates. He had been serving as LG's CEO since July 2018, following the launch of the Koo Kwang-mo leadership in June 2018.
LG plans to announce the successor to Vice Chairman Kwon along with the year-end regular personnel reshuffle, possibly within this month.
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Potential successors include Shin Hak-cheol, Vice Chairman and CEO of LG Chem; Cha Seok-yong, Vice Chairman of LG Household & Health Care; Kwon Bong-seok, President and CEO of LG Electronics; Kwon Soon-hwang, President and Head of LG Electronics BS Business Division; Jung Ho-young, President and CEO of LG Display; and Hong Beom-sik, Head of LG Management Strategy Team.
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