SEOUL (dpa-AFX) - LG Electronics Ltd. (066570.KS, 066575.KS), a South Korean consumer electronics major, announced the appointment of Lyu Jae-cheol as Chief Executive Officer, effective December 1.
Jae-cheol succeeds William Cho, who will step down from the role after four-year tenure as CEO.
The new CEO led the LG Home Appliance Solution (HS) Co., driving sustainable growth through expanded B2B operations and subscription-based and direct-to-consumer or D2C business models.
With Jae-cheol's appointment as CEO, executive vice president Baek Seung-tae, previously head of the Kitchen Solutions Business, will assume leadership of the HS Company.
Further, the company has promoted Eun Seok-hyun, head of the Vehicle Solution (VS) Company, and James Lee, head of the Eco Solution (ES) Company, to president.
Kwack Do-yeong has been appointed Region Representative of LG Electronics North America and head of LG Electronics USA.
Jae-cheol joined Goldstar, now LG Electronics, in 1989 as a researcher in the Home Appliance Research Center. Since 2021, he has served as head of the H&A, now HS, Co.
The current CEO Cho, who joined LG in 1987, expanded LG's business beyond home appliances into sectors such as mobility and commercial spaces.
LG Electronics said it aims to further accelerate growth of LG's two key B2B pillars such as vehicle solutions and heating, ventilation and air conditioning or HVAC.
Regarding its Organizational Restructure, LG said it will maintain its existing four-Company structure, ensuring fast and accountable decision-making at the Company level.
The company is also establishing new engines to accelerate high-potential business domains including HVAC, webOS and robotics.
The HS Company will establish the HS B2B Overseas Sales Division and elevate the Built-in/Cooking Business Division to a Business, while the HS Robotics Lab will be newly created, integrating select functions from the Chief Technology Office's Advanced Robotics Lab.
In addition, among others, the MS Company will integrate its TV and IT Businesses into a single Display Business, and establish a Display Product Development Group.
The company noted that all appointments and structural changes take effect December 1, 2025, with promotions effective January 1, 2026.
In South Korea, LG Electronics shares were trading at 85,200.00 won, down 0.23%.
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