LG Electronics CEO Transition: Betting Big on B2B Pivot

LG Electronics just announced a leadership shuffle that signals a major strategic shift. Lyu Jae-cheol is taking over as CEO from William Cho starting December 1, and this move isn’t random—it’s about doubling down on B2B.

Here’s what’s interesting: Jae-cheol has been running LG’s Home Appliance Solution division since 2021, where he’s been aggressively pushing B2B operations, subscription models, and direct-to-consumer channels. Now he’s getting the keys to the whole company.

What’s changing:

• LG is restructuring around two core B2B pillars: vehicle solutions and HVAC systems
• New business units being launched: a dedicated HVAC division, robotics lab, and webOS expansion
• HS Company getting a dedicated overseas B2B sales division
• TV and IT businesses merging into a single Display Business

Why it matters: This isn’t just typical corporate reshuffling. LG is essentially saying goodbye to competing directly with Samsung and Apple in consumer electronics, and instead targeting industrial/commercial markets where margins are thicker and competition is softer. William Cho started this pivot into mobility and commercial spaces during his 4-year tenure—Jae-cheol is accelerating it.

Stock took it in stride, down just 0.23% in Seoul trading. Market might be waiting to see actual execution.