LG.Philips LCD to Change its Name to LG Display Upon Receiving Approval at the AGM
Seoul, Korea . - LG.Philips LCD (NYSE: LPL, KRX: 034220), a leading innovator of thin-film transistor liquid crystal display (TFT-LCD) technology, announced that it plans to change its corporate name to LG Display upon receiving approval at the company’s annual general meeting of shareholders on February 29.
The new corporate name reflects the company’s business scope expansion and business model diversification, the change in corporate governance following the reduction of Philips’ equity stake, and LG’s commitment to enhanced responsible management.
LG.Philips LCD completed preparations for the name change after the board resolution at the board of directors’ meeting on February 4. Once the change is approved at the annual general meeting on February 29, LG.Philips LCD will register the new company name on March 3. The official new trade name is expected to be LG Display Co., Ltd, and the company will use the trademark of LG Display. The entire process of changing the company name is expected to be completed by the end of June 2008.
“The new name is rooted in expansion of the business scope and shift in the business model, fully expressing the company’s commitment to the future. We will continue to maintain our strategy of putting customer satisfaction first based on product and technology leadership as the global display leader.” said Bang-Soo Lee, Vice President and Head of PR & Public Affairs at LG.Philips LCD.
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