LG Electronics South Africa has appointed a new CEO, J.M. Lee, as part of a global restructuring of the international group’s operations aimed at boosting sales, driving innovation and reducing costs. Lee replaces the previous CEO, Peet van Rooyen, the first LG CEO of a country that was not Korean.
Lee expressed his appreciation for Van Rooyen’s business effort and commitment to LG South Africa over the past 10 years, and said he was looking forward to the challenge of further growing the company’s already significant presence in the South African marketplace.
Lee, who is 52 years old, is an international economics graduate who is fluent in English and Arabic. He has worked for LG for more than 20 years in a variety of senior and leadership positions in countries such as Saudi Arabia, Dubai, Australia, Moscow and the United States.
In December 2010, the group announced a global restructuring of its business, which consists of 115 operations (including South Africa) that employ more than 84 000 people worldwide.
“As part of this restructuring, LG Electronics South Africa will be aiming to increase sales across all business units by at least 50% over the next 12 months,” says Lee. “We will also be focusing on improving the speed and quality of our decision-making, managing down costs and improving the performance of our business units.”
The company has been trading in South Africa for more than 13 years, and achieved sales of R5 billion in 2010.
The news comes after LG successfully showed off new products at the recent Consumer Electronics Show in Las Vegas, including the Optimus 2X
smartphone running a dual core processor.