LS Group Chairman Koo Ja-eun carried out his first reshuffle of executives since his inauguration as chairman.
The personnel change may be construed as a focus on ensuring the stability of the group in consideration of rapidly changing outside conditions amid the group’s expected best-ever business performance.
Most CEOs of the group’s subsidiaries have been retained, and two professional managers have been promoted to vice chairman, based on the merit system.
(from left) LS Crop. Vice Chairman & CEO Myung Roe-hyun, LS MnM Vice Chairman & CEO Doh Seok-gu, President Koo Bon-gyu of LS Cable & System, Senior Executive Vice President Koo Dong-hwi of LS ELECTRIC, and President Ahn Won-hyung of LS Corp. Management Support Division.
Senior Executive Vice President Koo Bon-gyu and Executive Vice President Koo Dong-hwi have been promoted to president and senior executive vice president, respectively, making the 3rd generation offspring of the founder take center stage of management.
LS Group convened a board of directors’ meeting and conducted a groupwide reshuffle on Nov. 22. The personnel change has been seen as promotions based on organizational stability and merit system.
Senior Executive Vice President Koo Bon-gyu of LS Cable & System, promoted to president, is the eldest son of LS Cable & System Chairman Koo Ja-yeop and a cousin of LS Group Chairman Koo Ja-eun.
New LS Cable & System President Koo has been credited with yielding business outcomes though strong execution despite greater uncertainties of business conditions.
Executive Vice President Koo Dong-hwi, head of E1’s New Growth Business Division, has been promoted to senior executive vice president and is responsible for overseeing LS ELECTRIC’s vision management.
LS ELECTRIC’s new senior executive vice president Koo is a son of Christopher Koo, chairman of Korea International Trade Association (KITA). The promotion by the two offspring of the founder is seen as a move to make them in the front of management.
An LS Group official said under the stewardship of LS Chairman Koo Ja-eun, who took office early this year, the group is predicted to log the best-ever business performance, but the group conducted a reshuffle designed to ensure organizational stability, taking into account predicted upcoming global economic recession.
LS Group retained most CEOs of its subsidiaries by minimizing outside growth and organizational changes.
Vice President Ahn Won-hyung of LS Corp. has been promoted to president in recognition of heading the management support headquarters and ramping up environmental, social and corporate governance (ESG) management groupwide.
LS Group is seen to give more weight to exploring new business area in the future.
The group is expected to prepare for future growth by recruiting and promoting various internal and external experts in the tech, digital and global fields that will lead the electrification era in order to encourage growth amid the economic crisis.
The three executive vice presidents, promoted to senior executive vice president, are Koo Dong-hwi, Kim Dong-hyun of LS ELECTRIC and Han Sang-hoon of E1.
The three vice presidents, promoted to executive vice president, were Ahn Gil-young of LS ELECTRIC, Kim Soo-geun of E1 and Chung Kyung-soo of GRm.
Among those promoted to vice president were Hong Suk-chang of LS Corp., Jang Dong-wook of LS Cable & System, Park Woo-beon, Eoh Sang-chul, Eoh Young-guk and Yoon Won-ho, all of LS ELECTRIC, Yoo Sung-hwan and Lee Sang-min, all of LS Mtron, and Lee Jung-chul of Yesco Holdings.
Among those put on a new list of directors are Jo Joo-hyun of LS ELECTRIC, Kim Dae-ho, Kong Dong-hwan and Kim Sung-jik, all of LS MnM, Chung Nyun-ki and Koh Wan, all of LS Mtron, Yeom Joo-ho of Gaon Electronics, and Huh Ki-soo of Torecom.