Looks like its not just Nokia which is seeing changes in its top managerial positions these days.
According to a report in The Wall Street Journal, LG Electronics' CEO Nam Yong has tendered his resignation from the company. He would be replaced by Koo Bon-joon, who is currently the international head of LG and belongs to the founding family of LG.
Nam Yong is said to have resigned because of many reasons - primary because of his inability to revitalize LG's smartphone business which hasn't been doing particularly well these days.
Unlike Nokia, the company already has a slew of Android based phones. It is also slated to launch a bunch of Windows Phone 7 powered devices soon. However, LG doesn't seem to have captured the attention of customers like its competitors - Motorola, HTC and even Samsung have. Interestingly, until 2008, LG had been doing pretty well in the mobile phones sector. From being the world's sixth largest phone maker in 2005, LG had become the third largest in 2008. After that, however, its market shares saw a steady drop.
Nam Yong was re-elected to the post of CEO earlier this year after his three year tenure ended in January.