LS Group speeds up generational change in management

[Photo by LS Group]

Grandson-generation of the Koo founding family has been fielded to executive posts at LS Group on Tuesday, suggesting a shift to younger generation at the management amidst market uncertainties.

LS Group on Tuesday announced a total of 31 promotions in its annual executive reshuffle including three third-generation heirs in the owner family.

Yesco Holdings Vice President Koo Bon-hyuk, son of late LS-Nikko Copper Chairman Koo Ja-myung, was promoted to the new President and CEO.

Koo Bon-kyu, vice president and COO of LS Mtron who is the eldest son of LS Cable & System Chairman Koo Cha-yub, was promoted as the new CEO.

Koo Bon-hyuk and Koo Bon-kyu. [Photo by LS Group]

Koo Dong-hui, vice president of LS and the son of LS Group chair Koo Ja-yeol, will move to E1 to serve as new chief operating officer.

Under growing uncertainties from the Covid-19 outbreak, the group said it focused on stable management without big change in leadership in its latest annual executive reshuffle. R&D experts in overseas business and digital transformation have been promoted to prepare for future growth, it added.

With the executive reshuffle, LG Group is working on reorganization of the business structure as well to speed up decision-making process. Renewable energy and electric vehicle business will likely be expanded.

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