Latin America. William Cho, LG's chief strategy officer, will also assume the responsibility of chief executive officer effective December 1. LG's chief strategist since 2019, he was responsible for establishing LG's Business Incubation Center and promoting new business opportunities in the form of in-house companies as well as startup partners during his six-year tenure as president of LG North America.
After joining Goldstar in 1987 and spending four years in LG's overseas office in Germany, Mr. Cho has a historic career that includes positions as president of LG Canada, Australia and the United States. A graduate of Pusan University, Mr. Cho received his master's degree in business from Yonsei University in Seoul.
Other notable changes include the appointment of Kim Byoung-hoon as chief technology officer. Currently serving as director of the Future Technology Center, Dr. Kim is being promoted to executive vice president and will simultaneously assume the roles of chief technology officer and the new leadership position in information and communication technology.
Jang Ik-hwan, a 31-year veteran at LG, is being promoted to executive vice president and will assume the lead position at Business Solutions Company after successfully growing the IT business portfolio to make LG one of the fastest brands. Senior Vice President Eun Seok-hyun has been appointed to lead the vehicle component solutions company as its third and most recent president. Mr. Eun was previously responsible for the growth of the smart business division under the same company.
In the future, the new leadership team will accelerate change by focusing even more on customer value in the pursuit of growth and each business unit will take on greater responsibility. To this end, LG will reorganize its Customer Satisfaction Management Center into the new Customer Value Innovation Office with oversight from the CSO. CVIO's role will be to more effectively identify and incorporate customer feedback and pain points into product planning, development and sales processes. In addition, the Customer Experience Innovation Department of Home Appliance and Home Entertainment Companies will be upgraded to the Customer Experience Innovation Division.
In addition, in order to discover potential growth engines and accelerate future innovations, the M&A department under the umbrella of the Chief Strategy Office will be elevated to the division level to obtain more resources. Similarly, to increase its focus on future trends and customer needs, LG's Life Soft Research (LSR) department will be promoted to the Life Soft Research Lab to increase its influence within the Design Management Center. And to accelerate its digital transformation process related to the customer experience, LG will elevate the AI Big Data department to the division level under the watchful eye of the new Chief Digital Office (CDO).
All appointments will take effect on December 1 and promotions will take effect on the first day of the new year.
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