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President Koo visited LG Science Park at Magok in Seoul in May this year and ordered aggressive management, saying, “It is a failure to do nothing, not to challenge boldly.” After taking office, the second president will conduct a workshop bringing together senior management from affiliates. be be.
In this event, a staff renewal environment is detected, focused on affiliates with poor performance in the face of regular greetings.
Last year, before the president’s workshop, the CEO of LG Display, who was experiencing a large deficit, was replaced taking responsibility for poor performance.
Han Sang-beom, a former vice president of LG Display, who had been with the group for 37 years, took responsibility for the large-scale poor performance and resigned from the management front, but some believed Koo agreed with the background of the resignation of former Vice President Han.
This year, the number of 40-year-olds in their second year of inauguration means that many of them have risen to a firm position to fill senior executives (CEOs) in their 20s.
According to the business community, on the 4th, LG Group will hold a workshop for presidents in the middle of the month to discuss management strategies. However, the conference is expected to be held via video due to the reproliferation of the new coronavirus infection (Corona 19).
An LG Group official said: “With Corona 19, the LG Academy is being used as a lounge in the metropolitan area, but the specific meeting place or time has not yet come out.”
For the first time since his inauguration last year, President Koo hosted a President’s Workshop that brought together some 30 affiliate CEOs. At that time, key executives of the group, including LG Vice President Kwon Young-soo, LG Uplus Vice President Ha Hyeon-hoi, and LG Chem Vice President Shin Hak-cheol, were dispatched.
The business community is seeing that this year’s workshop will be a place to solidify the “management philosophy” that weighs on President Koo’s “responsibility” and “performance”.
In the first year of taking office, if we give more weight to organizational stability than to generational turnover, last year we carried out a generational turnover of personnel to induce change in the group as a whole, and this year we can carry out a full-fledged greeting for the constitutional change of LG.
In fact, LG has been showing a differentiated management method since last year. A typical example is that the demand has changed dramatically through aggressive marketing and immortality in order to survive. It is 180 degrees different from the past, which emphasized a friendly agreement.
The business community interprets LG’s ‘poisonous appearance’ in ‘Inhwa’ as not irrelevant to the changes in the Gwangmo Gu era.
For this reason, the business community is in the mood to heed the usual greetings this year. In particular, attention is drawn to the MC (smartphone) business division and the VS (electrical equipment) division, which are holding back LG Electronics’ improvement in earnings with home appliances as the main focus, even in the case of LG. Display and Corona 19, which have continued to suffer losses for six consecutive quarters.
However, LG Display predicts a profit rebound in the third quarter of this year as the OLED integration strategy has taken over the market. So there is a chance that you are distant from the end of the year greetings.
Management strategies for the spread of the new coronavirus infection (Corona 19) are also expected to be verified. President Koo chaired a video conference with the presidents team in April, when Corona 19 was in full swing, and called for a crisis-resistant company.
At the time, Chairman Koo emphasized, “You need to be flexible to react sensitively to the changing business environment.” To prepare for the future, we must manage risks proactively and build the resilience necessary to survive and become a crisis-resistant company. .
