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.
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