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On the 26th, LG Group decided at the board of directors to divide LG Corp. It means that we will create a new group company based on LG’s advisor Koo Bon-jun. Pictured is LG Twin Tower in Yeouido, Seoul, the headquarters of LG Group. / Hankyung DB
“It doesn’t change longevity during war.”
This is a statement expressing the characteristics of the ‘executive staff 2021’ announced by LG Group on the 26th. Until the opening of the staff cover, there were observations from inside and outside LG that “Chairman Kwang-mo Koo will lead carry out a complete personnel change of generations. “
However, Chairman Koo retained most of the CEO, playing the role of “longevity” of the battlefield. Instead, he put a lot of new faces on the executives, who are the staff. Amid uncertainties such as the recurrence of a new coronavirus infection (Corona 19), the launch of the Joe Biden government in the United States, and the internal economic recession, it is evaluated that it was a “ personal trick ”. It means that he focused on “innovation in stability” through a “new and old harmony” in the midst of uncertainty.
Reflecting the ‘practicality’ of the Ku Kwang model
Last year, LG Group executives were characterized by a “generational change.” Most of the CEO-level staff in their 60s or older resigned, and managers in the mid-to-late 50s, including LG Electronics President Kwon Bong-seok (CEO), LG Electronics Vice President Bae Doo -yong (CFO), and LG Hausys Vice President (CEO) Kang Gye-woong (CEO) took office.
This year’s CEO salute is characterized as “stable.” Among the vice presidents, Cha Seok-yong, Kwon Young-soo and Shin Hak-cheol, vice presidents, with the exception of LG Uplus vice president Ha Hyeon-hoi who decided to resign, were detained. Most of the CEOs of major subsidiaries, including LG Electronics Chairman Kwon Bong-seok, LG Display Chairman Chung Ho-young, and LG Innotek Chairman Jung Chul-dong, were hired.
There was also a CEO who was promoted to president. At LG Academy and Silicon Works, Vice President Lee Myung-gwan and Vice President Son Bo-ik, who are currently the representatives, have won the title of President. Jong-Hyun Kim, head of LG Chem’s battery business division, was appointed representative of LG Energy Solutions, which will part ways with LG Chem next month. LG explained: “It reflects the ‘pragmatism’ of President Kwang-mo Koo, who wants to strengthen his ability to overcome crises and lay the foundation for sustainable growth.”
In front of the headquarters, a greeting of ‘generational change’
The change in personnel was not small. This year, LG regularly greeted 181 people, including 177 promotions and four new CEOs and new senior managers at the business division manager level. It increased slightly from 168 in 2019.
At LG Co., Ltd., which directly assists Chairman Koo as the group’s control tower, Lee Bang-soo, leader of the CSR team that oversees external affairs, was promoted to chairman. President Lee will take on the role of strengthening LG’s ESG (environmental, social, governance) management.
The change was not small at the “Corporate Headquarters” level, where major affiliates lead each business division and assist the CEO. Born in 1967, Jae-cheol Ryu, Director of the Living Appliances Business Division (Vice President), will be the Director of LG Electronics’ Major Home Appliances Business (H&A) Division. Nam-cheol, Executive Director of Management Strategy, has been appointed Director of LG Chem’s Advanced Materials Business Division.
The head of headquarters who achieved results was rewarded with a “president promotion.” At LG Electronics, Lee Sang-gyu, head of the Korean sales division, has a president. Since joining the company in 1988, President Lee has worked through the areas of sales, strategy, distribution and marketing. Ji-woong Son, vice president of LG Chem’s life sciences business division, was also promoted to president.
He selected a large number of young executive women.
In the rapidly growing field of future growth businesses such as OLED (organic light emitting diode), electric vehicle batteries and automotive electronics (electrical and electronic devices), a large number of competitive young talents were selected as executives . 12 new executives from LG Energy Solutions and 5 from LG Display’s Plastics OELD division became executives. President Koo is also known to have recently emphasized “selecting and cultivating talents with executive power and experience to lead future growth and change.”
The number of “under 45” executives newly appointed this year was 24, up from 21 last year. Among new LG Electronics executives, the proportion of births since 1970 has risen from 57% last year to 70% this year.
This year 15 new female executives were born in various roles such as strategy, marketing, technology, R&D (research and development), production and customer service. Two out of every five new senior executives are employed by women, and LG H&H is a good example. Executive women in their 30s were also born, including Ji-kyung Ji-kyung, director of the China Digital Business Division (born 1983).
Aside from regular staff, LG hired 23 outside executives this year alone. An LG official explained: “We are recruiting outside talent to increase our professional capabilities and break with pure blood.”
Reporter Hwang Jung-soo / Ahn Jae-kwang / Lee Soo-bin [email protected]
