Nam named new LG chief
South Korean consumer electronics giant LG Electronics has appointed Yong Nam its new vice chairman and chief executive officer
South Korean consumer electronics giant LG Electronics has appointed Yong Nam its new vice chairman and chief executive officer.
Nam, who has more than 30 years experience working with LG Electronics, LG Corporation and LG Telecom, recently outlined his vision for the company to employees in Seoul, where the company is headquartered.
Nam claimed LG could realise its goal of becoming one of the top three consumer electronics companies in every market sector it occupied by focusing on ‘value creation' for shareholders, customers and employees alike. He also encouraged employees to be more strategic and result-oriented, and to adopt a customer- and market-focused mindset.
"Through these efforts, LG Electronics will be eventually the best company in the world, which is our ultimate goal," he said.
Coinciding with Nam's appointment last month, LG Electronics recruited two new business unit CEOs, a new CFO, a new head of Korea Sales & Marketing Operations and 26 other executives who will be employed in various capacities.
Prior to his appointment as CEO, Nam served as the head of Strategic Business of LG Corporation, where he also provided support to LG's chairman, Bon-Moo Koo. He also served as CEO and director of LG Telecom from October 1998 through May 2006, during which time he oversaw the company's rapid transformation into one of South Korea's most profitable telco service providers.