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Asian Family Conglomerates

LG's new CEO is a 40-year-old founding family heir

Koo Kwang-mo becomes fourth generation of his clan to lead conglomerate

With the appointment of Koo Kwang-mo as CEO and chairman, LG is being criticized for following the chaebol tradition of keeping corporate management under the control of the founding family.

SEOUL - LG, South Korea's fourth largest conglomerate, on Friday passed its leadership baton to a new generation of its founding family. Koo Kwang-mo is the fourth generation of Koos to lead the group.

LG announced that the holding company's shareholders approved Koo's nomination to the board and that the board then appointed the 40-year-old executive as chairman and CEO.

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