SEOUL, Nov. 24 (Yonhap) -- LG Household & Health Care Ltd., a major South Korean cosmetics and household goods maker, said Thursday it named the first female chief executive in its annual reshuffle.
LG Household & Healthcare promoted Lee Jung-ae to be the CEO of the company, effective Dec. 1.
"Lee has a good understanding of all business areas of the company, from cosmetics to beverages and household goods," the company said in a statement.
As a veteran marketer, Lee had spearheaded the global growth of LG Household & Health Care's luxury cosmetic brands, such as O Hui and Whoo, since 2015. The Whoo brand alone surpassed 1 trillion won (US$754.6 million) in annual revenue a year later, the company explained.
Since 2019, Lee had been the head of marketing of the company's beverage products, such as Coca-Cola and carbonated water Seagram's.
She will replace CEO Cha Suk-yong, who led LG Household & Health Care for 18 years.
LG Household & Health Care saw an over 46 percent on-year drop in net income in the third quarter this year, following a 44 percent on-year decline in the second quarter.