(Reuters) - The experimental superior honcho of LG Electronics replaced the presidents of its versatile handset and TV corporation divisions in a broad reshuffle to shore up the struggling South Korean company. CEO Koo Bon-joon, a fellow of the founding classification of LG Group, took workplace on Friday after LG Electronics, the world's No. 3 handset vendor and the No.2 TV maker, ousted its erstwhile key CEO finish month in a dictate to formulate around the firm's loss-making unfixed phone business.
Koo named Park Jong-seok, ex-mobile delving chief, to go first the company's responsive business division, which reported a maxisingle loss model quarter and has warned of a similar shrinkage this quarter. Park will take over from Skott Ahn, who is compelling to the role of LG Electronics' bossman technology officer. The handling changes come as the electronics ogre struggles to make forward motion in the fast-growing smartphone market, where it faces sanguinary competition from Apple's ( AAPL.
O ) iPhone and Samsung Electronics Galaxy S. Kwon Hee-won, ex-head of LG's LCD TV business, will substitute Simon Kang as move of LG's TV unit, LG Electronics also announced on Friday. Kang will be in imputation of LG's international marketing. Koo also tasked Paik Woo-hyun, c whilom premier technology officer, to steer the company's strange body to be established to commence its fresh vegetation engines in the reshuffle that counterfeit the nip brass. LG Electronics' allocate price was up 0.8 percent at 0230 GMT, outperforming a 0.6 percent proceeds in South Korea's ranking index.
Still, LG shares are down about 20 percent so far this year, while the headline key has rallied about 12 percent.
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