South Korea’s leading electric vehicle battery maker LG Energy Solution has named Kwon Young-soo, vice chairman at LG Group’s holding company LG Corp., its new CEO, the company announced Monday.

“Kwon has high knowledge and insight for the battery business and is capable of winning strong trust from customers, investors and other interested parties,” the company said in a press release. “The appointment reflects Chairman Koo Kwang-mo’s philosophy to appoint the most trustworthy executives to preemptively prepare for the future.”

Kwon will be replacing president Kim Jong-hyun, who is seemingly resigning to take responsibility for a recent costly battery recall. GM is recalling a huge number of Bolt EVs equipped with LG Energy Solution’s batteries for fire risks.

The appointment requires shareholders’ approval on Nov.1.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]