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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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