LG Electronics Announces Changes To Focus On Solutions
The Board of Directors at LG Electronics (LG), a global leader and technology innovator in consumer electronics, announced today strategic changes to the company’s structure, effective January 1, 2009.
At the core of LG’s reorganization is an increase in its focus on business solutions for tomorrow’s challenging environment. The company’s business portfolio has been restructured to maximize growth potential in existing businesses while at the same time fully developing new ones.
“Our business will be perfectly positioned to address tomorrow’s challenges as a result of these changes,” said Yong Nam, Vice Chairman and CEO of LG Electronics. “This strategy will enable us to capture even more of the ever-expanding commercial market. It will also help LG expand the value chain from device (hardware) to solutions and allow us to better address the lifestyle needs of our current and future customers.”
In addition to the changes to the company’s business units, Mr. Nam also appointed or promoted 48 new executives as part of his sweeping plan to position LG for long-term business success.
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