On the heels of a similar move at Nokia, LG Electronics CEO Nam Yong resigned today. He will be replaced by Koo Bon-joon, the head of trading firm LG International, on October 1st.
Nam resigned over dwindling phones sales. LG’s mobile division lost market share according to the latest Gartner estimates and reported its worst loss ever in its last quarter. It has also warned that the numbers will not be much better for the current quarter.
It is likely that Koo will make changes to his management team. Look for Skott Ahn, CEO of mobile communications, to be among those.