LG Electronics India Ltd announces reorganized leadership team to drive post-IPO growth

LG Electronics India Limited (LGEIL), India's number one player in major home appliances and consumer electronics, today announced a leadership reorganization. Coming immediately on the heels of the company's historic Initial Public Offering in October, this is a strategic move to enhance management operations in the India market, empower Indian leadership, and fortify LGEIL's organizational capabilities by improving local efficiencies.

As LGEIL enters this new chapter as a publicly listed entity, the company is streamlining its leadership hierarchy to foster more agile and strategic decision-making. These changes leverage the deep experience of its existing leadership team to drive the next phase of growth, sustain and improve market dominance, and enhance shareholder value creation.

To spearhead this re-organization, Mr. Sanjay Chitkara, formerly the Chief Sales Officer, has been elevated to Co-Chief Sales and Marketing Officer. Mr. Chitkara has demonstrated sustainable growth in the Indian business through increased corporate value and performance-driven growth through his business acumen and management capabilities.

Mr. Chitkara will continue working in close coordination with Mr. Hong Ju Jeon, Managing Director, LG Electronics India Limited who now also assumes the additional role of Chief Sales and Marketing Officer. Mr. Hong Ju Jeon will continue to oversee the strategic convergence of sales and marketing functions. This move signifies the company's intent to keep top leadership closer to market dynamics and consumer insights.

The leadership reorganization will also see Mr. Yongchan Jung, formerly the Manufacturing Head of the Noida manufacturing facility, being appointed as the Chief Production Officer. Mr. Jung will now hold unified command over LGEIL's entire manufacturing ecosystem, overseeing the Noida and Pune plants, as well as the new and upcoming manufacturing facility in Sri City, Andhra Pradesh. This consolidation is critical as LGEIL ramps up its 'Make in India' capabilities to serve both domestic and export demands.

Additionally, Mr. Chang Hwan Kim has been appointed as the Customer Care and Service Officer. His mandate is to enhance the post-purchase experience, ensuring that LG's service infrastructure scales in tandem with its sales growth.

Finally, Mr. Jwa Nam Kim, currently the India HR Head, takes over as the Chief Human Resource Officer, tasked with driving talent strategy and organizational culture in the post-IPO era.

Speaking on the strategic restructuring, Mr. Hong Ju Jeon, Managing Director, LG Electronics India Limited, said, "India is a cornerstone of LG's Global South strategy. Following our successful IPO, we see our responsibility to our shareholders and customers evolving. This restructuring is not just about role changes; it is about empowering our existing leadership team to enable faster and better decision-making and more cohesive management. By further streamlining our sales, manufacturing, and customer service functions, we are positioning LGEIL to aggressively capture new market opportunities while further consolidating and enhancing our market leadership."

The appointments are effective immediately. LGEIL remains steadfast in its commitment to the 'Make in India', 'Make for India', and 'Make India Global' initiative, ensuring that this leadership appointments unlock new opportunities for sustainable growth.

Shares of LG Electronics India Limited was last trading in BSE at Rs. 1630.10 as compared to the previous close of Rs. 1639.95. The total number of shares traded during the day was 113290 in over 1823 trades.

The stock hit an intraday high of Rs. 1651.95 and intraday low of 1623.20. The net turnover during the day was Rs. 184769039.00.

Source : Equity Bulls

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LGElectronicsIndia LGEINDIA INE324D01010 HouseholdAppliances LeadershipReorganization