LG Electronics (LG) has announced the key changes to its organization in an effort to enhance its strengths and more vigorously address the challenges ahead.
In addition to leadership changes, LG is also focusing on structural changes. The company has announced that to enhance its successes in the commercial sector by focusing additional resources on finding solutions, the Vehicle Components Company will be renamed the Vehicle Component Solutions (VS) Company and the Business-to-Business Company will become the Business Solutions (BS) Company going forward.
Executive vice president Kim Jin-yong, who heads the Vehicle Components Company’s fast-growing smart business efforts in intelligent driving and vehicle connectivity, will assume the role of president of the newly expanded VS Company.
The company will form two new divisions in robotics and autonomous vehicles. The divisions will be under the direct supervision of the CEO. The autonomous vehicle division aims foster growth by focusing on mid-to-long-term investment and research. The divsion also aims to bring new AI based technologies for the US and Canada.
Source: Press Release