LG Electronics (LG) has announced the appointment of William Cho, the current Chief Strategy Officer, as the company’s new CEO effective December 1.
Mr. Cho takes the reigns as CEO at a time when LG is re-aligning its business portfolio to accelerate growth and innovation, focusing on customer value and responsibility.
As LG’s top strategist since 2019, Mr. Cho was responsible for establishing LG’s Business Incubation Center and fostering new businesses opportunities through in-house ventures and partnering with start ups. He has also previously served as president of LG North America and Australia.
In his new role as CEO, Mr. Cho will also oversee the new customer service strategy LG is banking on to grow sales across its product portfolio.
LG has also unveiled other high level changes in its C-suite with the appointment of Kim Byoung-hoon as Chief Technology Officer. Currently serving as the head of the Future Technology Center, Dr. Kim has been promoted to executive vice president and will assume the position of Chief Technology Officer and new Information and Communication Technology leadership role.
Other changes include the appointment of Jang Ik-hwan to Executive Vice President in charge of LG Business Solutions company.
Senior Vice President Eun Seok-hyun has been tapped to lead the Vehicle Component Solutions Company as its third and newest president. Mr. Eun was previously responsible for growing the smart business division under the same company.
In the latest changes, LG will reorganize its Customer Satisfaction Management Center into the new Customer Value Innovation Office with oversight by the CSO. The role of the CVIO will be to more effectively identify and incorporate customer feedback and pain points into the product planning, development and sales processes.
LG Electronics is also speeding up its digital transformation process to revamp the customer experience. This will also involve elevating the AI Big Data department to division level under the new Chief Data Office (CDO). All appointments are effective December 1 while promotions take effect on January 1, 2022.