LG Chief Quits!

Chief executive officer of LG Electronics Nam Yong has resigned from the company, taking responsibility  for the company’s poor earnings. In a statement, LG even confirmed that the board of directors has accepted his resignation and will be replacing him with the current vice chairman of parent corporation LG International, Koo Bon-joon. The resignation comes following LG Electronics poor earnings report, and this is reportedly the bad phase for its smartphone division, despite of the fact that LG is the third largest mobile phone manufacturer in the world. Koo will assume his new role next month.

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