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LG's Moves Put Familiar Execs Upfront

12/06/2010 12:01:00 AM Eastern

ENGLEWOOD CLIFFS, N.J. — In LG Electronics
worldwide restructuring, two executives
well-known to the U.S.
CE market received expanded
roles, and an experienced exec
will take the reins of its majaps
business, here.

• Wayne Park, a 28-year LG
veteran and head of LG Electronics
North America since January,
becomes president of LG Electronics
U.S. (LGEUS).

• Jay Vandenbree, a 23-year
Sony Electronics sales executive who joined LG in
September 2009 and was most recently senior sales
VP, has been named the head of the LGEUS home
entertainment business unit.

• Sam Kim has been named head of the LGEUS
home appliance business unit. An LG veteran since
1988, Kim’s North American experience includes
serving as head of the U.S. OEM appliance division,
as well as key product management positions in the
U.S. and Canada. Since January, Kim has served as
North American regional business leader for refrigerator
products.

As part of the changes Park replaces James Shad,
who is leaving the company this month. Shad joined
LG in 2008 as executive VP.

The change was made as part of a global reorganization
designed to speed decision making and maximize
efficiencies, LG Electronics said as it announced
organizational changes in the United States, refocusing
operations on key business units.

Park announced the reorganization, which includes
establishing separate U.S. sales and operations organizations
for the home entertainment and home appliance
business units.

The existing sales and sales operations functions
will be redeployed within these business units, reporting
to Kim and Vandenbree respectively.

“This reorganization aligns with LG’s drive for achieving
success, which includes a
commitment to uphold our culture
of innovation paired with a
business strategy focusing on
our customers’ ever-changing
needs,” said Park. “Change allows
our company to grow and
challenges us to achieve that
success.”

As LG streamlines its North
American regional operations,
the company will continue to focus
on efficiencies through various shared service opportunities
across the region. Senior executives Peter
Reiner (marketing), Ron Kitlas (human resources), B.K.
Yoon (B2B OEM) and JD Han (administration) will lead
region-wide initiatives for their respective functions.

Corporately, LG said it implemented a corporate restructuring
that will see the elimination of one of its five
business operations next month in a bid to sure up its
competitive strength.

The company said it will dismantle its business solutions
unit as part of the restructuring effort to reverse a
99 percent decline in third-quarter net profit.

The business solutions division had produced flatscreen
display products for corporate customers and
automakers.

Flat-screen monitors, which had been part of the
division, will be moved into the remaining home entertainment
division.

The four remaining business divisions include home
appliance, air-conditioning and energy solutions, home
entertainment, and mobile communications.

Also as part of the move, the former air conditioning
division was expanded to include air conditioning and
energy solutions to reflect newly emerging business
opportunities in LEDs, solar-panel systems and other
so-called “green” technologies.

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