Koo Kwang-mo, the son of LG Group's late chairman Koo Bon-moo, has been appointed as board member of the holding firm and its CEO. He was adopted by Koo Bon-moo so as to fulfill the LG family's tradition of handing over power to the chairman's eldest son, Yonhap news agency reports. Koo Kwang-mo was named as the newest board member and CEO during the 29 June shareholders' meeting of LG. Koo currently holds a 6.24 percent stake in the holding firm. When he inherits the 11.28-percent stake of his late father, he will become the top shareholder.
Kim Sang-hun, who formerly led South Korea's portal operator Naver, was also named a non-executive director by shareholders.
