Global digital leader LG Electronics (LGE) recently announced the appointment of Mr. Yong Nam as the new Vice Chairman and CEO of LG Electronics, effective January 1, 2007.
The appointment of Mr. Nam, known for his drive and strategic outlook, signifies that LGE is making the change to becoming more achievement-oriented. Mr. Nam has more than 30 years of experience in LGE, LG Corporation and LG Telecom; prior to his appointment, he served as the Head of Strategic Business of LG Corporation.
Mr. Nam also served as Chief Executive Officer and Director of LG Telecom from October 1998 through May 2006. Other previous roles include President of the former Multimedia Division of LGE from December 1997 to October 1998 and Executive Vice President of LGE Group Chairman's Office from January 1997 to December 1997.
Commenting on his appointment as the new CEO of LG Electronics, Mr. Nam said: “I believe that we, at LG Electronics, have the most dedicated, hardworking group of people in the whole world. I absolutely believe we should – and can – become a global top 3 player in all business areas we are in. But I also think that this goal should be defined more clearly and boldly. Top 3 is not just about revenue, it is also about market share, profitability, growth rate and shareholder returns. And there’s one area where I don’t want to be top 3, but the very top – and that’s people. “
Value Creation is one aspiration that will be the core of Mr. Yong Nam’s aspirations for LG Electronics. He elaborated, “I want to build an organization that is truly focused on Value Creation. We aim to create value for our shareholders, for our customers, and also for the members of the LG Electronics family worldwide.”
Mr. Nam is expected to draw on his vast experience as part of the management team at LG Electronics to create opportunities in new markets, penetrate new customers segments, and develop new technologies and convergence trends.
Other newly appointed top executives of LGE include Mr. Simon Kang (formerly Head of the Korea Sales & Marketing Operation) and now as CEO of Digital Display Company.
Mr. Skott Ahn (formerly Head of Mobile Handset R&D Center) and now as CEO of Mobile Communications Company; Mr. James Jeong (formerly Head of Corporate Finance and Control Team) and now as CFO; and finally Mr. Waine Park (formerly of Corporate Strategy and Planning) and now as Head of Korea Sales & Marketing Operation.
About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 06657.KS) is the global leader and technology innovator in consumer electronics, home appliances and mobile communications, employing more than 72,000 people working in over 120 operations including 80 subsidiaries around the world. Comprised of four business units: Mobile Communications, Digital Appliance, Digital Display and Digital Media with global sales at USD 34.7 billion (consolidated USD 43.4 billion) as of 2005, LG Electronics is the world’s leading provider of CDMA handsets, residential air conditioners, plasma panels, optical storage products, DVD players and home theatre system. For more information, please visit www.lge.com
