Cho has been its top strategist since 2019 and was responsible for establishing LG’s Business Incubation Center
Korean electronics giant LG Electronics has announced that it has promoted William Cho, its Chief Strategy Officer to the position of Chief Executive Officer (CEO) effective December 1 inorder to to nurture new business opportunities and focus on digital transformation.
The company said in an official statement that Cho has been its top strategist since 2019 and was responsible for establishing LG’s Business Incubation Center and fostering new businesses opportunities in the form of in-house ventures as well as startup partners during his six-year tenure as president of LG North America.
Having joined Goldstar in 1987 and spending four years in LG’s overseas office in Germany, Cho has a storied career including roles as president of LG Canada, Australia and the United States. A graduate of Pusan University, Cho received his master’s degree in business from Yonsei University in Seoul.
Other notable changes include the appointment of Kim Byoung-hoon as Chief Technology Officer, who is currently serving as the head of the Future Technology Center. Kim is being promoted to executive vice president and will simultaneously assume the roles of Chief Technology Officer as well as the new Information and Communication Technology leadership position.
Additionally, Jang Ik-hwan, a 31-year veteran of LG, is being promoted from SVP to EVP and will assume the top position at the Business Solutions Company.
Also, to discover potential growth engines and expedite future innovations, the M&A department under the umbrella of the Chief Strategy Office will be elevated to division level for more resources, said LG.