On October 25, LG Energy Solution appointed LG Vice Chairman Kwon Young-soo as the new CEO.
It is an important time for LG Energy Solution to establish four consecutive large-scale electric vehicle battery joint ventures/factories with leading global automakers such as Hyundai Motor, GM, and Stellantis, and to smoothly supply KRW 200 trillion won in orders with the highest level of competitiveness.
The Board of Directors agreed that the time is needed for the new CEO to become the focal point for members during a business-critical transition period, to further solidify its global top-level market dominance and to give trust to customers and markets.
Since 2012, Vice Chairman Kwon has served as the head of LG Chem’s battery business division, winning orders from leading global automakers such as Audi and Daimler, and doubled the number of EV battery customers from 10 to 20 within two years of his inauguration.
In addition, he has placed LG Chem's mid- to large-sized batteries used in electric vehicles, etc., to the top position in the market.
Vice Chairman Kwon has been the CFO and CEO of LG Electronics and LG Display, and has operated many large-scale global business sites stably and successfully.
As the management system centered on LG CEO Koo Kwang-mo was launched in June 2018, Vice Chairman Kwon was appointed as the holding company COO (Chief Operating Officer) to assist Koo in July of that year.
"The battery business, an important core business of the group, is growing rapidly," said an LG official. "In this situation, LG is a global leader, reflecting the will of CEO Koo Kwang-mo to appoint the most reliable manager to preemptively prepare for the future by widening the gap with competitors in China and other countries."
