EXCLUSIVE: 18 months after being parachuted in to clean up LG Electronics in Australia from a series of consumer scandals, William Cho, the former President and CEO of LG Canada, is moving on to take on a senior management role at LG in Korea.
Cho is set to be replaced by Mr Noon a senior LG executive who has been running LG’s consumer electronics operations in Russia.
During his short engagement at LG Australia, Cho has been credited with initiating a major shakeup of the local operation. Cho replaced the former CEO Daniel Shin, who was the CEO in charge when LG was accused by the ACCC and Choice of engaging in the false and misleading marketing of appliances.
After parting Company with the then marketing manager David Brand, who had overseen some of the contentious marketing activities at LG, Cho set about replacing several executives in the company.
He appointed executives like Tim Barnes who he had worked at LG in Canada. Barnes was given the task of turning around the company’s consumer electronics business which had been floundering up against a surging Samsung.
Since his appointment, Barnes has turned around LG’s consumer electronics business with the launch of the controversial LG Cinema 3D TV campaign which has seen the company snatch market share away from several players including Samsung, Sony and Panasonic.
According to Barnes the company has also seen a surge in sales of their home entertainment systems, a category that is delivering higher profit returns than flat panel TVs.
“We have had a lot of success this year” said Barnes. “We have not only expanded our TV penetration in the market but successfully bought to market several home theatre attach devices that are proving highly popular.”
Next week LG is set to launch several new marketing campaigns for both consumer electronics and appliances. Earlier this year LG won a case in the Federal Court after Samsung accused them of misleading consumers with their 3D TV advertising for passive TV technology Vs the active TV technology that is sold by Samsung, Sony and Panasonic.
A big letdown for Cho was the sudden exit of former marketing Manager Nick Gibson who was brought in to replace the sacked David Brand. Gibson, who was credited with initiating several new marketing activities at LG, including the launch of their highly successful Cinema 3D campaign, quit after only 10 months.
LG is still looking for a new marketing director.
The appointment of a new CEO at LG Australia follows the sudden exit yesterday of Lambro Skropidis, the marketing director at Samsung.
Speculation that Skropidis was set to join LG in the new year has been dismissed.
