LG Electronics has reorganized its four major units and top brass to put what the vendor called greater emphasis on business solutions.
What that means, according to a statement from LG released late Friday, is that LG's four business units will become five. Under the current structure, LG's flowchart includes the Digital Appliance, Digital Display, Digital Media and Mobile Communications divisions.
Effective Jan. 1, the new units will be Mobile Communications, Home Entertainment, Home Appliance, Air Conditioning and Business Solutions.
"Our business will be perfectly positioned to address tomorrow's challenges as a result of these changes," said Vice Chairman and CEO of LG Electronics Yong Nam in a statement. "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 changes of our current and future customers."
LG's Home Entertainment company will focus on technology related to televisions, PDP modules and audio/video products -- a combined effort of resources from both the soon-to-be former Digital Display and Digital Media units. Executive Vice President and CEO of LG Digital Display Simon Kang will be president and CEO.
Home Appliance will focus on refrigerators, washing machines, kitchenware and other appliances, and have Young Ha Lee, currently CEO of LG Digital Appliance, at its helm. Elsewhere, the new Air Conditioning unit is a spinoff of the former Digital Appliance unit and will be headed up by CEO Hwan Yong Nho, current head of the Digital Appliance unit's air conditioning division.
Business Solutions will focus on commercial (B2B) monitors, hotel TVs, digital signage, security and telematics, LG said, and be led by B.B. Hwang, currently executive vice president and CEO of LG Digital Media. Mobile Communications will be the lone LG unit to continue in its present form, the only change being Executive Vice President and CEO Dr. Scott Ahn's title, to president and CEO.
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