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LG Energy Solution Ltd. replaced its chief executive officer, Kwon Young Soo, who stepped down on his own accord. The Seoul-based battery manufacturing company appointed Kim Dong Myung as Kwon’s successor.
Before his promotion to the CEO post, Kim worked as head of LG Energy Solution’s advanced automotive battery unit. His appointment is part of the company’s year-end shake-up of its top-level management group.
Leadership Reshuffle to Transform the Management
According to The Korea Times, LG Energy Solution confirmed Kwon Young Soo’s departure with Kim Dong Myung taking over the office on Wednesday, Nov. 22. It was said that the move to appoint the new chief is being seen by most officials as a generational shift which is being pushed by Koo Kwang Mo, the chairman of LGES’ parent company, the LG Group.
“Given his diverse experiences in every corner of the battery industry, the new CEO is widely expected to exercise strong leadership, so the company can tighten its footing as the world’s best battery manufacturer,” the spokesperson of the battery manufacturer said in a statement about the new appointment.
The Incoming CEO’s Work Background
Kim is a 54-year-old executive who is 12 years younger than the outgoing chief. He served as a senior executive in some of LG Group’s key affiliates including telecom, display, and batteries. He started his long career at the company by joining LG Electronics in 1998 and worked at different units since then.
He is a graduate of metallurgical engineering at the prestigious Yonsei University in South Korea. On the other hand, the departing CEO Kwon Young Soo served the LG Group for 44 years, and throughout his tenure, he handled various executive roles in LG Chem, LG Electronics, and LGES.
Finally, Korea Joongang Daily reported that Kim Dong Myung is set to take over on Jan. 1, 2024. His appointment has been fully approved by the company’s board on Wednesday.
Photo by: LG Energy Solution Media Library
