LG CEO William Cho steps down after three years. The new CEO is Lyu Jae-cheol, previously head of the Home Appliances division. The top-management reshuffle aims, among other things, to strengthen B2B sales.
New CEO: Lyu Jae-cheol Takes Over at LG
As of December 1, LG Electronics has a new Global CEO: Lyu Jae-cheol. He has been with LG since 1989 and takes over from William Cho, who led the company’s transformation from a hardware-driven company to a “Smart Life Solution Company.”
Since 2021, Lyu Jae-cheol has headed LG’s Home Appliance Solution (HS) division, where he focused on expanding B2B business and direct sales models. Now, he is expected to apply his track record in smart home appliances to the entire company.
Along with the CEO change, LG is also updating its organizational structure to speed up decision-making and clarify business focus. The four main divisions – Home Appliance Solution (HS), Media Entertainment Solution (MS), Vehicle Solution (VS), and Eco Solution (ES) – will remain. At the same time, some functions will be consolidated, and investments will target high-growth markets.
Within the MS division, which includes Digital Signage, LG is combining its TV and IT businesses into a new Display unit. Expanding the WebOS advertising business is another key goal.
Company-wide initiatives include an AI transformation, centered on the new AX Center. Within the Chief Technology Office, LG will also create an Advanced Research Lab to strengthen its technology base and a Next-Generation Computing Lab focused on quantum computing, distributed computing, and security solutions.
Looking ahead to 2026, LG plans to focus on future growth areas such as HVAC, WebOS, and robotics to strengthen its long-term business.
