|LG Corp. Vice Chairman Kwon Young-soo (LG Energy Solution)|
According to LG Energy Solution, it held a board of directors meeting Monday and decided to arrange a shareholders meeting on Nov. 1 to appoint Kwon as the new CEO.
Kwon will be tasked with the successful management of joint ventures with major automakers including General Motors, Hyundai Motor and Stellantis as well as the delivery of a massive order backlog which currently stands at some 200 trillion won ($171 billion).
Industry officials say that Kwon’s leadership in the battery business has already been proven. In 2012, Kwon took the helm of LG Energy Solution -- which was then a battery division of LG Chem -- and doubled its number of automaker clients to 20 in just two years.
“The decision portrays Chairman Koo’s determination and belief that the most reliable leader should be appointed to widen the gap between Chinese competitors,” a company official said.
Former LG Energy Solution CEO Kim Jong-hyun resigned after concluding issues concerning recent recalls.