By Kim Yoo-chul
Staff Reporter
In a rare move, South Korea’s LG Electronics has given a foreigner full responsibility for local and global marketing, showing the company’s plans to appeal to global electronics markets.
The company is even thinking of hiring more foreigners for other top positions.
LG Electronics said Wednesday it has named Dermot Boden as its chief marketing officer (CMO). The current head of Pfizer’s Northeast Asian Region will start his new job in December, according to the company.
This marks the first time that LG has hired a foreigner for the high-ranking post.
``The decision was in line with our steady and aggressive efforts to strengthen global marketing. We hope that the newly appointed executive, with a proven track record at Johnson & Johnson and Pfizer, will help the company raise its global brand recognition,’’ an LG spokesperson said.
LG has been actively scouting experienced senior executives after its Vice Chairman Nam Yong stressed the importance of ``tailored global marketing strategies’’ in a bid to raise brand awareness on the global consumer electronics market.
``More high-ranking foreigners will be hired, especially in purchasing and human resources sectors. We have engaged in detailed talks with some possible candidates,’’ another LG official said.
On the list of scouted officials for top positions since Nam took office are chief strategy officer (CSO) Park Min-sok and Choi Myoung-wha, senior manager of the Insights Marketing Team, former McKinsey consultants. Caroline Kim, a senior executive of the Digital Appliances Overseas Marketing Team, was hired from Mercedez-Benz Korea, while Chief of the Display Brand Marketing Team Lee Kwan-sup came from P&G Korea.
LG Electronics is expected to reap 40 trillion won in sales this year _ sales from overseas markets will take up 85 percent of the total.
The company forecasts the proportion of overseas sales to reach 90 percent by 2010, when total revenue is expected to reach 70 trillion won.
``The number of foreign workers will surpass that of local employees to reach 60,000 by then. Given the fact that overseas affiliates will reach 80 and our use of expanded `tailored marketing,’ we need to hire more experienced foreign and local executives,’’ the LG official said.