|
|
|
|
|
Lg Announces Corporate Restructuring To Address Current And Fu-ture Challenges
Published Dec 14, 2010
|
LG Electronics (LG) announced a number of restructuring commitments as part of its ongoing transformation process to overcome the current challenges and to accel-erate future growth. The restructuring is aligned to three main priorities to establish business unit-centered complete operating system to ensure speed and accuracy in decision-making, enhance development of advanced technology and reinforce new business organizations with a clear eye to the future and strengthen the company’s business fundamentals by accelerating innovation.
The Business Innovation Office will be established and overseen directly by Vice Chairman Bon-joon Koo. It will be responsible for elevation various company core competencies such as Six Sigma, services, procurement, etc. CMO is disbanded while Global Marketing Division is renamed as Global Marketing Office to promote LG Brand and strengthen subsidiaries’ sales capability.
To give more emphasis to individual products, the Business Solutions (BS) Company will be dissolved, with the monitor and solution business units transferring to Home Entertainment (HE) Company. In consideration of their business characteristics, Home Entertainment Company’s digital storage (DS) business unit, Mobile Communications (MC) Company’s PC business unit and Business Solution Company’s car business unit will become independent units and report directly to the Vice Chairman.
To strengthen its existing business and develop new capabilities, the Home Appliance (HA) Company will elevate its component business with the establishment of a compressor and motor business unit. A separate healthcare business team will drive growth in this category and a separate commercial water business team will be created to drive the water business forward.
The Air Conditioning (AC) Company will take on the new name of Air Conditioning and Energy Solution (AE) Company that will take on future growth opportunities in the environment space such as solar and LED lighting.
About LG Electronics:
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event.
For more information:
LG Electronics Inc. MEA Regional Company
Zahabia Motiwala
Corporate Communications Manager
Corporate Marketing Team
T: +9714-350 9500
F: +9714-334 4304
E: Zahabia.motiwala@lge.com
Posted by
VMD - [Virtual Marketing Department]
|
|
|
