LG Group, the nation's fourth-largest conglomerate, said Thursday that it had conducted its annual executive reshuffle and appointed LG Electronics home entertainment president Ha Hyun-hwoi as LG Corp. president.
Ha's new role at LG Corp., the holding company of the group, will include serving as deputy for LG Group chairman Koo Bon-moo.
Ha has headed LG Electronics' home entertainment unit since early this year, and has been credited with launching the tech giant's strategic products such as next-generation OLED TVs, LG Group said.
The new LG Corp. president previously served as an executive at LG Corp. focusing on creating synergy between LG affiliates in businesses such as mobile technology, displays, energy solutions and automotive parts.
"President Ha is well-qualified to prepare for LG's future and further fortify its business portfolio given his strong execution ability," LG Group said in a press statement.
LG Corp. deputy director Koo Kwang-mo, the oldest son of the group chairman, was promoted to vice president, indicating that LG Group will begin to push for a power shift to the next generation of the owner family. The heir apparent holds a nearly 5 per cent stake in LG Corp.
LG Corp.'s current president Juno Cho will take on the role of LG Electronics mobile communications president, LG Electronics said.
This would mean a return to LG Electronics for Cho, who previously headed mobile business strategy and marketing operations for the company's North America division between 2000 and 2007.
Park Jong-seok, president of LG Electronics mobile communications, will be the company's chief technology adviser.
LG Corp. synergy division head Kwon Bong-suk has been promoted to executive vice president of LG Electronics' home entertainment unit.
Kwon was responsible for taking LG to the No. 1 position in the LED monitor market and was involved in the development of the company's flagship G series smartphones.
LG Electronics said it would merge its home appliance unit with its air conditioning and energy solution business to create a consolidated home appliance and air solution division.
Jo Seong-jin, president of the home appliance unit, will assume responsibility of the newly created division.
"The merger of the HA and AE units will strengthen the company's ability to provide total solutions for homes based on LG's proprietary core technologies," it said.
Noh Hwan-yong, president of the air conditioning and energy solutions unit, will be business-to-business officer in charge of industrial products such as information displays and commercial air conditioning systems.