LG names new mobile boss in annual reshuffle

LG Electronics, South Korea's second largest handset maker, has appointed a new executive to spearhead its mobile business and expand on recent global success.

Juno Cho, president and Chief Operating Officer of LG Corp, has been named president and CEO of LG Electronics' mobile division, effective December 1, according to CNET.

The current CEO Park Jong-Seok, who has been suffering from health problems, was reportedly named Chief Technology Advisor and will assist the newly-appointed Cho in a supporting role. Juno Cho is credited for LG's successes in the mid-2000s when he was head of LG Electronics' North America arm after it launched the Chocolate Phone in 2006. He is in his early 50s and is considered a 'young-blood'.

LG secured a 16.3 percent market share in North America during the third quarter. This was a record for the company, more than double its market share from a year ago and just behind rivals Apple and Samsung, according to US-based Strategy Analytics.

LG also posted 167.4 billion won ($152 million) in operating profit during the quarter, its highest since 2010. As part of the annual reshuffle, Kwon Bong-suk, head of LG Corp's Synergy Division, was promoted to executive vice president and CEO of the LG Home Entertainment Company, its consumer electronics division. Kwon's central mission is to prepare for expansion of OLED TVs next year.