LG merges home appliance and ac businesses
27th November 2014
SOUTH KOREA: LG Electronics is to merge its Home Appliance and Air Conditioning & Energy Solution business units.
LG says the the merger of the two businesses will strengthen the company’s ability to provide total solutions for the home based on LG’s proprietary core technologies.
Seong-jin Jo, current president and CEO of the LG Home Appliance Company, will assume responsibility of the newly created Home Appliance and Air Solution (H&A) Company.
Other realignments are designed to strengthen LG’s competitiveness in the business-to-business (B2B) sector. Hwan-yong Noh, current president and CEO of the LG Air Conditioning & Energy Solution Company, will take on the new role of B2B officer to position LG as a leader in the commercial sector, which includes information displays, commercial air conditioning systems and energy-related initiatives.
Executive vice president Sang-bong Lee will lead the LG Energy Business Center, a new division created from the strengths of three existing businesses: Solar, Lighting and Energy Storage System (ESS).
