LG H&H said it held its 25th annual general shareholders meeting at 9 a.m. on the 24th at the LG Seoul Station Building in Jung-gu, Seoul. At the meeting, LG H&H approved all five agenda items as originally proposed: ▲ approval of the 25th financial statements ▲ approval of amendments to the articles of incorporation ▲ appointment of directors to serve as Audit Committee Commissioners ▲ approval of the limit on directors' remuneration ▲ approval of the cancellation of treasury shares.
LG H&H posted sales of 6.3555 trillion won last year, down 6.7% from a year earlier. Operating profit for the same period fell 62.8% to 170.7 billion won, and net profit swung to a loss of -85.8 billion won. The cash dividends per share were set at 1,000 won for common stock and 1,050 won for preferred stock.
At the meeting, in line with amendments to the Commercial Act and to strengthen shareholder rights, shareholders approved changes to the articles of incorporation, including deleting the clause excluding cumulative voting, introducing an electronic general meeting system, and changing the title to independent director. In addition, outside director Kim Jae-hwan, a professor in the Department of Business Administration at Korea University, was appointed as a director to serve as an Audit Committee Commissioner, and the limit on directors' remuneration was approved as originally proposed. LG H&H's Audit Committee is composed entirely of outside directors.
President Lee Sun-ju of LG H&H said, "Through top-tier research and development (R&D) capabilities and infrastructure in the industry, we will reinvent ourselves as a 'Science-Driven Beauty & Wellness Company.'"
Lee also said, "Through a focused strategy by overseas region, we will dig into each country's leading commerce channels and continue to expand the digital share," adding, "By concentrating on high-growth channels and regions, we will intensively nurture 10 key brands and make 2026 a year of growth transition."