SEOUL, KOREA: LG Electronics this week announced a restructuring that will eliminate at least one division.
The Business Solutions Company is being dissolved, with the video monitor and solution business units transferring to Home Entertainment, the division that includes the company's Mobile DTV initiative. Home Entertainment’s digital storage unit, the Mobile Communications PC business unit and the Business Solution’s car business unit will become independent units and report directly to LG Vice Chairman Koo Bon-joon. He will oversee a newly established Business Innovation Office, responsible for Six Sigma, services, procurement and so forth. The Global Marketing Division is being renamed as “Global Marketing Office” to promote LG brands.
The Home Appliance division will elevate its component business with the establishment of a compressor and motor business unit. A separate health care business team will drive growth in this category and a separate commercial water business team will be created to drive the water business forward.The Air Conditioning division will take on the new name of Air Conditioning and Energy Solutions that will take on future growth opportunities in the environment space such as solar and LED lighting.
