Hours after ChannelNews revealed another shakeup at LG Electronics the Company has issued a statement confirming the appointment of a new Managing Director.

He has been named as Sangmoo Lim and he will start work in Australia in January 2020. He has previously worked at LG Australia.

Lim comes from a senior global role at the companies Cleaning Products business and has worked on the development of robotic vacuum cleaners.

LG said that the previous MD Mr Youngik Lee, who was known for cutting costs is set to retire after he was not offered a new role in the Company.

One insider at LG Electronics South Korea operation said “Executives don’t quit or get sacked they retire. They see LG as a job for life which is why very few have LinkedIn profiles”.

LG Australia said Mr Lim will help the company further grow and continue to meet changing customer needs. There was no mentions of confrontations with prior management who have quit while he was CEO.

The Company statement said Mr Lee has made a significant contribution to the company and the local industry since taking on the Australian role in 2015.