LG Electronics appoints Ryu Jae-chul as new CEO

Seoul [South Korea], November 28 (ANI): LG Group has announced a sweeping executive reshuffle on Thursday, focused on strengthening future growth investments and accelerating qualitative expansion across its key subsidiaries, as per a report by Pulse, the English service of Maeil Business News Korea.
As per the news report, the reshuffle saw promotions primarily in sectors critical to LG's long-term competitiveness, while leadership changes were made in divisions requiring strategic restructuring.
At LG Electronics, a total of 34 executives were promoted this year--including two presidents, two executive vice presidents, nine senior vice presidents, and 21 vice presidents--slightly fewer than last year's 46, the Pulse report noted.
At LG Electronics, Ryu Jae-chul, head of the Home Appliance Solution (HS) Company, was promoted to CEO, following his success in leading the company's home appliance division to global No. 1 status.
Ryu, who joined GoldStar's appliance research lab in 1989, has spent roughly half of his career in R&D and is widely recognised as a field-driven leader and home appliance specialist.
Since taking charge of the H&A division in 2021, Ryu has driven an average annual revenue growth rate of 7 per cent, establishing LG as the world's top home appliance brand under a single label, the news report noted.
Baek Seung-tae, previously head of the Kitchen Solution division, will succeed Ryu as head of the Home Appliance & Solution (HS) business unit.
Meanwhile, Eun Seok-hyun, head of the Vehicle Solution (VS) Company, and Lee Jae-sung, head of the Eco Solution (ES) Company, were both promoted to president. Their promotions reflect LG's strategic emphasis on its B2B pillars--vehicle components and HVAC (heating, ventilation, and air conditioning)--to drive the next stage of corporate growth, the Pulse report noted.
Eun, who joined LG Electronics in late 2018, was credited with expanding infotainment sales and improving profitability amid global uncertainties, including US tariffs and slowing EV demand. Lee, an HVAC expert who joined GoldStar in 1987, has led the ES division since last year, expanding industrial and power cooling businesses through large-scale chillers.
LG Electronics also carried out an organisational restructuring to accelerate growth.
The existing four-company structure--HS, MS, VS, and ES--will be maintained, with new divisions added to enhance global competitiveness.
The HS Company will establish an HS B2B Overseas Sales Division to strengthen its global built-in and builder-focused business, while launching a new HS Robotics Lab by transferring select functions from the Chief Technology Office's Advanced Robotics Lab.
The Media Entertainment Solution (MS) Company will merge its TV and IT businesses into a unified Display Business and establish a Display Product Development Group to enhance product competitiveness. The ES Company will add dedicated teams for ventilation, refrigeration, and industrial applications, while creating ES M&A and ES Overseas Sales Divisions to reinforce localised, end-to-end overseas operations, the news report noted.
At LG Innotek, Moon Hyuk-soo, current CEO and executive vice president, was promoted to president. Since taking the helm in late 2023, Moon has spearheaded growth in semiconductor components--including automotive AP modules, FC-BGAs, and LiDAR/Radar sensor systems--and laid the groundwork for expansion into robotics components.
At LG Chem, Kim Dong-chun, head of the Advanced Materials Division, was promoted to CEO and president. Kim, born in 1968, holds a degree in industrial chemistry from Hanyang University and an MBA from the University of Washington. Since joining LG Chem in 1996, he has held major leadership roles in semiconductor and electronics materials businesses, establishing himself as a key figure in LG's advanced materials expansion, it added.
Industry observers, according to the Pulse report, said Kim's promotion reflects strong performance metrics such as share price and profitability, particularly following the retirement of Vice Chairman Shin Hak-cheol, whom Chairman Koo Kwang-mo personally recruited as his first major outside hire.
At LG Uplus, Kwon Yong-hyun (Head of Corporate Business), Yang Hyo-seok (Chief Human Resources Officer), and Yeo Myung-hee (Chief Financial & Risk Officer) were all promoted to executive vice presidents. Seven new managing directors were also appointed, with a focus on AI-driven businesses such as the AICC (AI Contact Center), AIDC (AI Data Center), and the "ixi-O" AI call app.
At LG Corp, the holding company, Jang Geon, Jang Seung-se, and Jung Jung-wook were promoted to executive vice presidents overseeing legal compliance, chemical operations, and public relations, respectively, the news report added. LG Energy Solution also announced promotions for one senior executive director and six new managing directors, the Pulse report concluded. (ANI)