SEOUL, SOUTH KOREA –
Young-Ha Lee has
stepped down as president/CEO of LG Electronics’
digital appliance unit after seven years.
He was succeeded by Moon-bum Shin, executive
VP and head of LG Home Appliances’ overseas marketing
The change was prompted by underperformance
within the majap division, according
to published reports.
LG’s global appliance volume
grew 9 percent to $2.3
billion during its last quarter
ended Sept. 30, while revenue
outside Korea rose 17 percent,
due in part to OEM business
expansion in North America.
Lee joined LG in 1979 and
served as head of the company’s
his promotion to
executive VP in
2002. He was
named CEO of
LG’s Digital Appliance