LG puts executive playlist on ‘shuffle’

LG Electronics Inc.-the South Korean home appliance giant and parent of LG Telecom-has replaced its top corporate officer and the head of its telecom unit in an effort to reignite its fortunes in mobile handsets and flat-panel displays, according to media reports.
A former corporate vice chairman and CEO of LG Telecom, Nam Yong, has been named to run the overall company, while Skott Ahn will head the telecom unit. Ahn replaces Il Jae Jung, who had been appointed to the post in July.
Skott Ahn had most recently served as an executive vice president and head of the LG Electronics Mobile Handset R&D Center. He has been credited with development of LG’s halo product, the Chocolate phone.
Nam Yong had stepped down as head of the mobile telecom unit this past summer when LG Telecom announced it would not immediately utilize its 3G spectrum in Korea. The Korean government subsequently revoked its license; government policy required the resignation of corporate officers involved in revoked 3G licenses.
LG Electronics MobileComm USA Inc., the Korean conglomerate’s mobile communications business in the United States, was the largest supplier of CDMA handsets in the United States last year, according to market analysis firm IDC. But the global telecom unit’s fortunes have taken a hit as it slipped into fifth place globally in the past two quarters, just behind rival Sony Ericsson Mobile Communications L.P.
Both LG and Samsung Electronics Co. Ltd., the world’s third-largest handset vendor, are projected to lose market share this year over last year, according to Strategy Analytics. Meanwhile, Nokia Corp. and Motorola Corp.-the handset industry’s No. 1 and No. 2 vendors, respectively-are each projected to gain several points each in market share.