LG Household & Health Care (051900.KS) has laid out a blueprint to transform itself into a science-driven beauty and health company grounded in research and development, while strengthening its overseas growth strategy.
CEO Lee Sun-joo said at the company's 25th annual general meeting held Thursday at the LG Seoul Station Building in Jung-gu, Seoul, "We will intensively nurture our 10 core brands, focusing on high-growth channels and regions, to make 2026 a year of growth turnaround."
"Based on our industry-leading R&D capabilities and infrastructure, we will reinvent ourselves as a beauty and health company built on scientific research," Lee said. "We will target key commerce channels in each country and continue to expand our digital presence."
A total of five agenda items were approved as proposed at the meeting, including approval of the 25th fiscal year financial statements, amendments to the articles of incorporation, appointment of a director to serve on the audit committee, approval of the cap on director compensation, and retirement of treasury shares.
LG H&H's performance last year was lackluster. On a consolidated basis, revenue fell 6.7% year-on-year to 6.3555 trillion won ($4.7 billion), while operating profit plunged 62.8% to 170.7 billion won. The company swung to a net loss of 85.8 billion won. Dividends were set at 1,000 won per common share and 1,050 won per preferred share.
The articles of incorporation were also amended. In line with the intent of revised commercial law, the company removed a provision excluding cumulative voting to strengthen shareholder rights and introduced an electronic shareholders' meeting system. The title "outside director" was also changed to "independent director."
Additionally, Kim Jae-hwan, a professor of business administration at Korea University, was appointed as a director serving on the audit committee, and the cap on director compensation was approved as proposed. LG H&H's audit committee is composed entirely of independent directors.