LG Electronics Announced Organizational Restructuring For
Future Growth
LG Electronics (LG) announced organizational changes to take another leap forward towards
achieving
the Future Vision 2030 announced in July. The changes are being implemented to strengthen
organizational capabilities and business competitiveness to realize the vision of transforming into
a smart life solution company that connects and expands various spaces and experiences of customers
beyond home appliances.
A key piece of the forward-thinking strategy is the newly established Overseas Sales and Marketing
Company, which will report directly to LG CEO William Cho. The company will be led by
Thomas Yoon,
who previously served as the president and CEO of LG Electronics North America.
The Overseas Sales and Marketing Company will play a crucial role in accelerating change and growth
as well as enhancing LG's global brand power by discovering and developing opportunities to create
customer value. The new organization will manage overseas sales subsidiaries in North America,
Europe, Latin America, the Middle East and Asia; Global Marketing Group; and the Direct-to-Consumer
(D2C) Sales Business Group.
The company will not only seek to strengthen executive capabilities in the overseas operations of
strategically critical businesses including B2B operations, but also provide necessary support to
bolster qualitative growth of all other business units by aiding the development of overseas sales
expertise as well as accelerating the advancement of platform-based businesses and innovative D2C
business models. The D2C Business Group will take on the role of expanding customer contact points
by strengthening Online Brand Shop (OBS) activities and customer data-based digital marketing
capabilities.
The Home Entertainment (HE) Company is set to accelerate its transition to become a media and
entertainment powerhouse. To strengthen the smart TV operating system webOS, the webOS SW
Development Group will be established for direct reporting to Park Hyoung-sei, president of the HE
Company. Also, the eXtended Reality (XR) Business Division will be established directly under the
headquarters.
Leading the company since 2019, President Park has been promoted in recognition of his contribution
to upgrading the company's business portfolio, improving profitability of premium product lineups
and growing the webOS platform while solidifying the company's position in the global OLED TV
market.
The Business Solutions (BS) Company will expand sales and business operations in major regions such
as North America, Europe, Central Asia, Asia and Latin America. The current B2B India Business
Department will be upgraded into the B2B India Business Division to maintain continuous growth in
the country.
All appointments are effective Dec. 1 with promotions going into effect on the first day of the new
year.