Energy

LG Energy Solution names new chief executive

1 minute read

SEOUL, Oct 25 (Reuters) - South Korea's LG Energy Solution (LGES) said on Monday it has named LG Corp (003550.KS) Vice Chairman Kwon Young Soo as its new chief executive officer.

LGES, LG Chem Ltd's (051910.KS) wholly owned battery subsidiary which supplies Tesla Inc (TSLA.O), General Motors Co (GM.N) and Hyundai Motor Co (005380.KS) among others, said in a statement it would hold a board meeting to approve Kwon's appointment on Nov. 1.

The moves comes after LGES and LG Electronics Inc (066570.KS) agreed this month to pay a combined $1.2 billion in costs associated with a recall of GM vehicles.

Newly appointed CEO Kwon was a former president of LG Chem's energy solution business between 2012 and 2015, LGES said in a statement.

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Reporting by Heekyong Yang; editing by Richard Pullin and Stephen Coates

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