LG Energy Solution's Vice Chairman Kwon Young-soo Steps Down... Kim Dong-myung Likely Successor as President

Regular Executive Personnel Changes After Board Meeting on the 22nd
Kim Dongmyeong, Promoted Last Year, Likely Successor

Vice Chairman Kwon Young-soo of LG Energy Solution is stepping down from frontline management. His successor is expected to be Kim Dong-myung, President and Head of the Automotive Battery Division at LG Energy Solution.

LG Energy Solution will hold a board meeting on the 22nd to finalize and announce the regular executive personnel list.

Among them, the retirement of Vice Chairman Kwon, born in 1957, is anticipated. Some reports suggest that Kwon already tendered his resignation last week.

Previously, rumors circulated within and outside the business community about Kwon's possible appointment as POSCO Chairman. Regarding this, Kwon denied the speculation during a press event earlier this month, stating, "(Going to be POSCO Chairman) is out of the question."

Kwon Young-soo, Vice Chairman of LG Energy Solution
Photo by LG Energy Solution

Kwon, who joined LG Electronics in 1979, took the position of CEO at the holding company LG Corp. in August 2018, shortly after Chairman Koo Kwang-mo's leadership began, helping to stabilize the Koo administration for about three years. In 2021, he moved to LG Energy Solution, playing a key role as a troubleshooter during the battery recall crisis, leading the company through its IPO and securing battery orders. From 2012 to 2015, he served as Head of the Battery Business Division at LG Chem, playing a decisive role in growing the battery business.

Kim, who is mentioned as Kwon's successor, was born in 1969 and holds a Ph.D. in Materials Engineering from KAIST. He served as Director of the Mobile Battery Development Center (Senior Manager), Head of the Small Battery Business Division (Executive Director), and Head of the Automotive Battery Division (Vice President) at LG Chem before moving to LG Energy Solution in December 2020. He was promoted to President in last year's year-end personnel reshuffle.

An LG Energy Solution official stated, "The final personnel decision will be confirmed after the board meeting."

In the business community, given the expected high management uncertainty next year, it is anticipated that LG Group will make personnel changes pursuing "innovation within stability." There is also a strong possibility of generational change personnel focused on "future planning."

Kim Dong-myeong, CEO of LG Energy Solution

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