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LG Group executives 177 promoted … 15 women executives promoted, the highest in history
In the third regular executive salute after taking office on the 25th and 26th, LG Group Chairman Koo Kwang-mo chose ‘Innovation in Stability’ without significant changes in consideration of the recent business environment.
The CEOs of major subsidiaries such as LG Electronics, LG Display and LG Chem were retained.
It is interpreted that stability was sought taking into account the uncertainties in the national and foreign business environment due to the new coronavirus infection (Corona 19).
Additionally, by establishing a new holding company focused on five companies, including LG Hausys and Silicon Works, Koo Bon-jun decided to separate the subsidiaries of LG Co., Ltd. advisor.
LG Group, which was the first of the four groups to complete the organizational and personnel reorganization, is on the way to complete the business reorganization work with division separation and business reorganization in the fourth year of Chairman Koo Kwang-mo .
◇ All CEOs of subsidiaries except LG Uplus retained … “Considering Corona 19 uncertainty”
The LG Group carried out a total of 181 executives, including 5 promotions to president, 12 promotions to vice president, 36 promotions to CEO and 124 new appointments to CEO.
Vice President Ha Hyun-hoe, CEO of LG U +, resigned, and Hwang Hyun-sik, CEO of consumer companies, was appointed the new CEO.
Hwang is the first CEO of LG U +.
Vice Chairman Ha, known as Assistant Advisor Koo Bon-joon, is expected to take the lead at LG International and Hausys, which are separate from the LG Group.
Unsurprisingly, the CEO of LG Chem’s new battery division, ‘LG Energy Solutions’, which will launch on the 1st of next month, has been appointed CEO of the head of LG’s battery business division. Chem, Kim Jong-hyun.
Furthermore, the command towers of subsidiaries such as LG Electronics, LG Display and LG Chem decided to keep the current system until next year without replacement.
A total of five people were promoted to the presidency this year, a significant increase compared to last year and last year, when only one was promoted to the presidency.
LG Electronics Korea Sales Headquarters Lee Sang-gyu, Silicon Works Son Bo-ik CEO, LG Chem Life Sciences Business Headquarters Son Ji-woong, LG Inhwa Institute President Lee Myung-kwan, CSR Team Leader by LG Lee Bang-soo.
◇ 24 45-year-old ‘young executives’ … 15 female executives rose to majority
Of the 177 executives promoted, 124 new executives became executives, more than last year (106).
Among the new ones, there were 24 people under 45 years of age, compared to the last two years (21 each).
The youngest executive was Ji-kyung Ji (37, female), director of LG H & H’s China Digital Business Division, and three new executives born in the 1980s.
The company explained that it is taking a strong momentum in business by inertia by boldly selecting and providing opportunities to competitive young talents in the rapidly growing business field of the future.
In particular, the company has expanded the advocacy staff for talented individuals who have made achievements in the field of digital transformation that LG is accelerating, such as artificial intelligence (AI), big data and cloud, which are the foundations of future readiness. , and young talents who have achieved results in the fields of R&D and engineering. Said.
The increase in executive women is also noted.
15 people were promoted, the highest in history, among them 4 senior managers and 11 new executives.
The number of women executives promoted was 6 last year and 11 last year.
Two companies, including LG Display (CEO Kim Hee-yeon) and LG Uplus (CEO Yeo Myung-hee and Kim Sae-ra), produced the first CEO since their inception.
LG Chem was also the first CEO (CEO Yoon Soo-hee) was selected for the Life Sciences Business Division.
As a result, the number of female executives in the group increased from 39 last year to 51, including a female vice president, 9 female executive directors, and 41 female executive directors, and the proportion of female executives at LG Group increased from 3.2% in 2018 to 5.5%.
Those who were promoted to executives also included three foreign nationals, including Denny Thiemig (German), CEO of the Polish car battery production subsidiary of LG Energy Solutions.
In addition to executives at the end of this year, LG Group announced that it is parting with the pureblood by recruiting 23 outsiders from time to time, including Vice President Heo Seong-woo of LG Chem’s Petrochemical Business Division.
◇ Separation of affiliates with five companies, including Koo Bon-joon, LG Hausys and Silicon Works
It was also decided to promote the division of five companies, including LG International, with consultant Koo Bon-jun as the center.
LG Corp., a holding company of LG Group, served on the board on this day and divided the investment divisions of four subsidiaries, including LG International, Silicon Works, LG Hausys and LG MMA, among LG’s 13 subsidiaries. (Provisional name) has decided on a plan to establish the division.
The CEO of the new company will be the uncle of CEO Koo Kwang-mo, LG’s advisor Koo Bon-joon, and Song Chi-ho, LG International’s CEO, and Park Jang-soo, LG’s CEO. Finance Team.
Since the new holding company is led by Koo Bon-joon as CEO of the new holding company, LG Group will operate under two main systems, for the time being, LG Holdings Co., led by chairman Koo Kwang-mo, and LG Corp.
This is a procedure for the separation of subsidiaries by Koo Bon-jun, and the new holding company is expected to be separated from the LG Group after the establishment of a new holding company in May next year and the completion of the Related procedures necessary for the division.
LG Group maintains the tradition of relinquishing the first line of management or being independent, with the eldest son as group president and other family members to avoid conflicts over management rights.
Since Chairman Koo Bon-moo passed away and Chairman Koo Kwang-mo took office in 2018, the corporate world has predicted that advisor Koo Bon-joon’s split will be a matter of time.
The separation of the holding company is expected to end the reorganization of the business structure, which has been carried out in accordance with the strategy of “ pick and concentrate ” the business portfolio after assuming the position of President Kwang-mo Koo in 2018.
LG Corp., a surviving company after the spin-off, focuses on electronics, chemicals and telecommunications services, the core of the group, while the newly created holding company fosters business ventures with growth potential, focused on LG International. , Hausys and Silicon Works. I plan to maximize.
On March 26, 2021, the company will be reorganized into two holding companies: LG Corp., a surviving company, and a new company, and will launch on May 1 after going through the approval process of the division of the company. at the ordinary general meeting of shareholders.
/ yunhap news
