LG chief resigns as mobile sales dwindle

Nam Young, who was appointed CEO three years ago, offered his resignation to take responsibility for company's poor management and performance.

The chief executive of South Korean consumer electronics giant LG Electronics resigned today amid declining mobile phone sales, according to news reports.

Nam Yong will be replaced on October 1 by Koo Bon-joon, 59, who is the head of trading firm LG International, Reuters reported. The incoming CEO is a founding family member of the company and younger brother of LG Group Chairman Koo Bon-moo.

LG said Nam offered his resignation to take responsibility for company's poor management and performance. He was appointed in 2007.

Read more of "LG CEO resigns as mobile sales dwindle" at ZDNet Asia.

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