//Single CEO Structure the New Norm, LG Follows Suit

Single CEO Structure the New Norm, LG Follows Suit

LG Electronics has been the frontrunner for many appliances which cater to the kitchen. The Korean company has been known till now for its different management system at the top which has the dividend top-tier three chief executives.

However, the company is finally moving from the divided leadership system and has subsequently appointed Seong-jin Jo as the only chief executive and vice chairman of the enterprise. Seong-jin was the head of the home and appliance (H&A) business till now. The appointment to follow the single chief executive system of leadership has become effective immediately. The company decided to go for this way because they have known the level of competition in the market and wanted to ensure that they are not falling behind.

Mr. Jo has now become the head of all the operations of the company and will have control over the company’s global access of 120 countries. He is going to spearhead the company’s efforts to head the tech company and take it to new heights as a single entity. The three business units of the company which will report directly to him are H&A, home entertainment, mobile communications and vehicle components.

Jo has been the unanimous choice of the company as he has been with the company for around 40 years. Aged 60, Jo was with the company when they manufactured their first washing machine back in 1980. Jo was the responsible person who has taken the home appliances business of LG to new heights, and it was booming at a time when the phone business of the company was lagging behind. He headed the washing machine division of the company before becoming the chairman of the H&A secretary of the enterprise.

Read: Top 18 Smart Home Products and Home Automation Systems For Your Dream Home

LG knows the value of appointing a person like Jo as its CEO because he has been with the company for a long time, especially for taking up the premium appliances to the forefront. He has also laid the foundation for the future of the company by introducing LG signature brand and also the built-in signature kitchen suite. The person has been instrumental in establishing the company’s hold on the smart homes and its devices.

The top-tier management system which earlier had three heads will be retained as the VC and the CEO posting.

LG is bound to see big growth in revenue and global hold of many of its products as Jo knows the company like the back of his hand. Everyone is looking forward to his endeavors and ways in which he will boost the growth of the other divisions of the company all over the world as he did it for the home appliances. H&A includes air conditioners, cooking appliances and refrigerators as well.

Check: Top 15 Tech Gadgets on Amazon

The company has not seen a real graph for the mobile division as it is still struggling with all the competition from all over the world. Jo’s position as the head of H&A division will soon be passed over to Song Dae-Hyun.

By | 2016-12-21T02:30:06+00:00 December 21st, 2016|Tech News|Comments Off on Single CEO Structure the New Norm, LG Follows Suit

About the Author: