LG Sacks CEO After Record Mobile-Phone Losses

Jun Yang, reporting for Bloomberg:

LG Electronics Inc., the world’s third-largest mobile-phone maker, replaced its chief executive officer after a record loss at the flagship handset business, prompting the stock’s biggest gain in about six months.

“Third-largest” by unit sales, I presume, but using unit sales as a metric is what led companies like LG and Nokia into their current state. Apple is now the world’s biggest phone maker, measured by profit — and that’s why these other CEOs are getting canned.

★ Friday, 17 September 2010