LG Electronics’ ceo quits
LG Electronics' chief executive Nam Yong (pictured) has resigned following a poor earnings report. The company's board of directors has accepted his resignation and will be replacing him with the current vice chairman of parent corporation LG International, Koo Bon-joon, in early October.
Nam will retain the title of ceo until the annual general meeting in March 2011.
Nam's departure follows the South Korean company's Q2 operating profit drop of 90% for its handset business, despite being the third largest mobile phone maker in the world.
