Lyu Jae-cheol Appointed as New CEO to
Strengthen Fundamental Competitiveness of Core Businesses

SEOUL, Nov. 27, 2025 — LG Electronics (LG) today announced that Lyu Jae-cheol will assume the role of Chief Executive Officer, effective December 1. Mr. Lyu has successfully led the LG Home Appliance Solution (HS) Company, driving sustainable growth through expanded B2B operations, subscription-based and direct-to-consumer (D2C) business models, and continued competitive leadership based on LG’s core strengths in home appliances.

As CEO, Mr. Lyu will focus on expanding LG’s market-leading DNA in home appliances – built on delivering differentiated customer value – across the entire organization, further enhancing the company’s fundamental competitiveness and growth potential.

Mr. Lyu joined Goldstar (now LG Electronics) in 1989 as a researcher in the Home Appliance Research Center and has spent nearly half of his career in home appliance R&D, building deep technical expertise that has shaped his leadership approach. Since 2021, he has served as head of the H&A (now HS) Company, leading LG to become the global No. 1 home appliance brand.

Despite delayed recovery in consumer sentiment and intensifying market competition, he strengthened the leadership of flagship products while laying the groundwork for sustainable growth through continuous R&D. He also expanded HS Company’s business portfolio by advancing appliance subscription services, online channel growth and B2B business areas such as built-in appliances and component solutions.

Leadership Transition
William Cho will step down to support a healthy leadership transition after laying a strong foundation for sustainable growth during his four-year tenure as CEO.

Mr. Cho, who joined LG in 1987 and has dedicated 37 years to the company, expanded LG’s business beyond home appliances into sectors such as mobility and commercial spaces and established a mid- to long-term vision to transform LG into a Smart Life Solution Company that connects and extends customer experience across diverse spaces. His strategic direction prioritized performance in core businesses; growth in B2B, non-hardware and D2C areas; expansion into high-potential Global South markets; and exploration of new business domains – each becoming key milestones in LG’s future growth strategy.

To further accelerate growth of LG’s two key B2B pillars – vehicle solutions and heating, ventilation and air conditioning (HVAC) – the company has promoted Eun Seok-hyun, head of the Vehicle Solution (VS) Company, and James Lee, head of the Eco Solution (ES) Company, to president.

Kwack Do-yeong, who brings extensive experience in sales and strategy at the HS Company and a deep understanding of global markets, has been appointed Region Representative of LG Electronics North America and head of LG Electronics USA.

2026 Organizational Restructure
This year’s organizational changes focus on enhancing efficiency to build a more agile decision-making structure capable of responding to rapid external shifts, while reinforcing selective and focused operations to accelerate LG’s mid- to long-term portfolio strategy.

LG will maintain its existing four-Company structure, ensuring fast and accountable decision-making at the Company level. Similar and adjacent functions across business organizations will be integrated to streamline operations and improve execution efficiency.

With Mr. Lyu’s appointment as CEO, executive vice president Baek Seung-tae, previously head of the Kitchen Solutions Business, will assume leadership of the HS Company. Baek has strengthened global appliance competitiveness through roles leading both the Living Solutions and Kitchen Solutions Business and is well positioned to advance global production strategies under changing market conditions. The heads of the Media Entertainment Solution (MS), VS and ES Companies will remain in their roles to ensure continuity and strategic momentum.

Strengthening Growth Foundations for Future-Oriented and High-Potential Businesses
In parallel with organizational efficiency, LG is establishing new engines to accelerate high-potential business domains including HVAC, webOS and robotics.

• The HS Company will establish the HS B2B Overseas Sales Division to grow global built-in and builder-focused business, and elevate the Built-in/Cooking Business Division to a Business.
• The HS Robotics Lab will be newly created, integrating select functions from the Chief Technology Office’s Advanced Robotics Lab. Research Fellow Lee Jae-wook, who led the Humanoid Robot Task, will head the lab.
• The MS Company will integrate its TV and IT Businesses into a single Display Business, and establish a Display Product Development Group to strengthen product competitiveness. The webOS Advertisement Business Department will be elevated to a Business to strengthen support for the expansion of webOS-based service operations.
• The ES Company will establish a new Applied Business Division focused on HVAC solutions for data center cooling, ventilation, refrigeration and nuclear power, while launching the ES M&A Division and ES Overseas Sales Division to support localized, end-to-end overseas operations.
• Within the Chief Technology Office, a new HS Advanced Research Lab will enhance fundamental technology competitiveness, and a Next-Generation Computing Lab will be established to strengthen leadership in emerging technologies such as quantum and distributed computing and next-generation security.
• To drive companywide AI transformation, the existing DX Center and Business Process Innovation Division will be integrated into a new organization, the AX Center. Under the leadership of senior vice president Cho Jung-bum, former head of the DX Center, the AX Center will spearhead efforts to accelerate AI adoption, enhance operational efficiency, advance R&D and strengthen employee capabilities.

All appointments and structural changes take effect December 1, 2025, with promotions effective January 1, 2026.

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