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PR Newswire

LG ELECTRONICS ANNOUNCES ORGANIZATIONAL RESTRUCTURING FOR FUTURE GROWTH

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Company Aims for Further Growth and Changes to Enhance Customer Value in Rapidly Changing Global Market

SEOUL, South Korea, Nov. 24, 2023 /PRNewswire/ — LG Electronics (LG) today announced organizational changes to take another leap forward towards achieving the Future Vision 2030 announced in July. The changes are being implemented to strengthen organizational capabilities and business competitiveness to realize the vision of transforming into a Smart Life Solution Company that connects and expands various spaces and experiences of customers beyond home appliances.

Logo of LG Electronics
Logo of LG Electronics

A key piece of the forward-thinking strategy is the newly-established Overseas Sales and Marketing Company, which will report directly to LG CEO William Cho. The company will be led by Thomas Yoon, who previously served as the president and CEO of LG Electronics North America.

The Overseas Sales and Marketing Company will play a crucial role in accelerating change and growth as well as enhancing LG’s global brand power by discovering and developing opportunities to create customer value. The new organization will manage overseas sales subsidiaries in North America, Europe, the Middle East and Africa, Latin America and Asia; Global Marketing Group; and the Direct-to-Consumer (D2C) Sales Business Group.

The company will not only seek to strengthen executive capabilities in the overseas operations of strategically critical businesses including B2B operations, but also provide necessary support to bolster qualitative growth of all other business units by aiding the development of overseas sales expertise as well as accelerating the advancement of platform-based businesses and innovative D2C business models. The D2C Business Sales Group will take on the role of expanding customer contact points by strengthening Online Brand Shop (OBS) activities and customer data-based digital marketing capabilities.

While maintaining its agile and responsive decision-making system across all four business units, LG will aim to spur further development of original technologies in each business unit and support the company’s business transformation.

The Home Appliance & Air Solution (H&A) Company will establish an engineering sales division under the Air Solution Business to enhance the engineering capabilities to maximize business synergy in heating, ventilation and air conditioning (HVAC), its core B2B business area. In addition, the Home Beauty Business will be transferred from the Home Entertainment Company to the H&A Company to create synergy with existing strong product lineups in ‘Home’ spaces.

The Home Entertainment (HE) Company is set to further accelerate its transition to become a media and entertainment powerhouse. To strengthen the smart TV operating system webOS, the webOS SW Development Group will be established for direct reporting to Park Hyoung-sei, president of the HE Company. Also, the eXtended Reality (XR) Business Division will be established directly under the headquarters.

Leading the company since 2019, president Park has been promoted in recognition of his contribution to upgrading the company’s business portfolio, improving profitability of premium product lineups and growing the webOS platform while solidifying the company’s position in the global OLED TV market.

The Vehicle component Solutions (VS) Company will set up the Global Customer Strategy Division directly under its headquarters to establish an integrated strategy for order and sales management and strengthen marketing functions to accelerate the growth of the business.

The Business Solutions (BS) Company will expand sales and business operations in major regions such as North America, Europe, the Middle East and Africa, Latin America and Asia. The current B2B India Business Department will be upgraded into the B2B India Business Division to maintain continuous growth in the country.  

All appointments are effective Dec. 1 with promotions going into effect on the first day of the new year.

About LG Electronics, Inc.

LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 80 trillion in 2022. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.

PR Newswire

IronNet Inc. Files Voluntary Chapter 11 Petitions

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MCLEAN, Va., Nov. 4, 2023 /PRNewswire/ — IronNet, Inc. (“IronNet” or “the Company”) stabilizes operations and continues plan of reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Court” and such cases, the “Chapter 11 Cases” or “Restructuring”).

On October 10, 2023, IronNet entered into a binding term sheet (the “Term Sheet”) with ITC Global Advisors (“ITC”) for a $10M debtor-in-possession financing facility (“DIP”).

On October 12, 2023, IronNet filed a variety of “first day” motions seeking customary relief intended to enable the Company and its subsidiaries to continue ordinary course operations during the Restructuring. On October 13, 2013, the Court approved these first day motions, and authorized, on an interim basis, the execution of a reinstatement agreement with Amazon Web Services to reinstate and reactivate its cloud computing services.

Linda Zecher, CEO of IronNet, said, “Against a backdrop of intense restructuring in an uncertain capital raising environment, we remain intent on stabilizing IronNet and serving our customers. With the DIP financing provided by ITC, we believe we are better positioned to act in the interests of our stakeholders through the Restructuring.”

About IronNet

Founded in 2014 by GEN (Ret.) Keith Alexander, IronNet, Inc. (OTCMKTS: IRNTQ) is a global cybersecurity leader that is transforming how organizations secure their networks by delivering the first-ever collective defense platform operating at scale. Employing a number of former NSA cybersecurity operators with offensive and defensive cyber experience, IronNet integrates deep tradecraft knowledge into its industry-leading products to solve the most challenging cyber problems facing the world today.

Cautionary Statements

The Company cautions that trading in the Company’s securities during the pendency of the Restructuring is highly speculative and poses substantial risks. Trading prices for the Company’s securities may bear little or no relationship to the actual recovery, if any, by holders of the Company’s securities in the Restructuring.

Certain statements in this release are forward-looking statements which are subject to risks, uncertainties, and other factors potentially causing actual materially differing results from those expressed or implied by such statements, and are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain, including statements with respect to the Company’s pursuit of bankruptcy protection. Forward-looking statements generally relate to future events and can be identified by terminology such as or similar to “may,” “should,” “could,” “future,” “expect,” “intend,” “intent,” “will,” “estimate,” “believe,” “predict,” “potential,” “anticipate” or “continue,” or the negatives of these terms or variations of them or similar terminology.

Factors relating to the Company’s Restructuring potentially causing actual results to differ materially from current expectations include, but are not limited to; the ability to obtain Court approval of motions filed, risks associated with any third-party motions, potential adverse effects of the Restructuring on the Company’s liquidity or results of operations and increased legal and other professional costs necessary to execute the Company’s reorganization, duration of the Restructuring, Court rulings in and the outcome of the Restructuring in general, and any effects of Restructuring on the Company and on the interests of various constituents.

Additionally, conditions to which the Company’s cash collateral is subject and the risk that these conditions may not be satisfied for various reasons, including reasons outside of the Company’s control; consequences of the acceleration of the Company’s debt obligations and the trading price and volatility of the Company’s common stock, and risks and uncertainties stated in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” of the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2023, and other documents filed by the Company from time to time with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.

Investor Contact: IR@ironnet.com
Media Contact: Media@ironnet.com

Source: IronNet, Inc.

PR Newswire

JinkoSolar Announces Strategic Plan of its Subsidiary to Access China’s Capital Markets

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SHANGRAO, China, Sept. 21, 2020 — JinkoSolar Holding Co., Ltd. ("JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its board of directors has approved a strategic plan to access China’s capital markets through its principal operating subsidiary Jinko Solar Co., Ltd. ("Jiangxi Jinko").

JinkoSolar is considering the opportunity to list Jiangxi Jinko, after certain intragroup restructuring, on the Shanghai Stock Exchange’s Sci-Tech innovation board (the "STAR Market"), an exchange intended to support innovative companies in China, within the next three years.  

To qualify Jiangxi Jinko for a STAR Market listing and to raise additional capital to support its continuous expansion, the board has also approved an equity financing of Jiangxi Jinko, under which certain China-based reputable third-party investors, JinkoSolar’s founders, Xiande Li, Kangping Chen and Xianhua Li, and senior management personnel have agreed to invest an aggregate of RMB 3.1 billion (approximately US$ 458 million) into Jiangxi Jinko for an aggregate of 26.7% equity interest in Jiangxi Jinko. The transaction has been negotiated at arm’s length at a pre-money valuation of Jiangxi Jinko’s equity value of RMB 8.5 billion (approximately US$1.26 billion), which is 15.6% higher than JinkoSolar’s market capitalization on September 18, 2020, and 45.4% higher than JinkoSolar’s average market capitalization for the 90 days preceding September 18, 2020. The transaction is subject to customary closing conditions and is expected to be completed by the end of October 2020.

Mr. Kangping Chen, Chief Executive Officer of JinkoSolar, commented, "Listing Jiangxi Jinko on the STAR Market will enable it to access a new source of growth capital, which we believe will ultimately strengthen our leading position in the solar module industry and support our continuous growth over the long run. We believe the listings of JinkoSolar on the New York Stock Exchange and Jiangxi Jinko on the STAR Market will raise our profile with investors both in China and globally and provide us with additional opportunities to grow in the future."

Whether Jiangxi Jinko is able to be successfully listed on the STAR Market, the timing of the listing, and its valuation upon listing will depend on various factors, including but not limited to capital market conditions in China and globally, the regulatory environment for listed securities, Jiangxi Jinko’s business and financial performance and its fulfillment of the listing requirements in China.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes it solar products and sells its solutions and services to a diversified international utility, commercial, and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 17.5 GW for silicon wafers, 10.6 GW for solar cells, and 16.0 GW for solar modules, as of March 31, 2020.

JinkoSolar has 7 production facilities globally, and 14 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, and Australia, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, Kenya, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland, and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Ms. Ripple Zhang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3105
Email: ir@jinkosolar.com

Mr. Rene Vanguestaine
Christensen
Tel: + 86 178 1749 0483
Email: rvanguestaine@ChristensenIR.com

In the U.S.:

Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

 

Related Links :

http://www.jinkosolar.com

PR Newswire

maaiiconnect’s brand refresh represents a new era in customer engagement and internal team collaboration

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HONG KONG, May 8, 2020 /PRNewswire/ — Pioneering digital convergence solutions provider M800 has today announced a new brand identity for its flagship product, maaiiconnect, to represent the next generation in global communications. The all-in-one solution for customer engagement and internal team collaboration guarantees exceptionally stable, carrier-grade connections across both telecom and digital channels, helping businesses tackle their toughest communications challenges.

Inspired by the cohesive, agile, and efficient structure of an ant colony, maaiiconnect brings together the best of telecom, web, and social media channels on a scalable platform. Similar to the dynamic network of ant tunnels connecting multiple nests, maaiiconnect’s distributed infrastructure and intelligent features empower businesses to continuously evolve their communications and deliver ambitious business goals. The platform puts the customer at the centre of every business it serves by mobilising best-in-class voice and video calls, and smart messaging solutions. maaiiconnect is the first service that truly bridges the gap between telecom and datacom services. 

The new logo is brought to life in Cobalt Blue and Aqua-marine. The former colour denotes maaiiconnect’s traditional roots — a proven, reliable infrastructure at the heart of its cutting-edge technology. Infusing the design with vivid energy, the Aqua-marine colour represents maaiiconnect’s promise to deliver scalable solutions that epitomise the future of communications. The synergy between the dots mirrors the relationship between maaiiconnect’s enterprise clients and their customers — a single interface connecting multiple touchpoints, including web communications, telecommunications, and social media channels.

“The current pandemic has fast-tracked digital transformation for companies globally,” says Peter Chan, Founder and CEO of M800 Limited. “We are committed to ensuring maaiiconnect continues to help businesses with a freemium solution that maintains operations and drives business success during difficult times.”

The platform gives companies the capabilities required to boost productivity and engage with customers anytime, anywhere, on any device, including:

  • External engagement tools. Voice and video call, QR code/weblink call and chat, virtual numbers, smart messaging, and third-party system integration.
  • The maaiiconnect dashboard. The software creates a 360 degree view of each customer in a single interface to enable personalised marketing solutions.
  • Internal collaboration tools. Group chat, video call, screen sharing, file sharing, and video conference. The latter launches in Q2.

The cornerstones of maaiiconnect‘s first-of-its-kind offering and guaranteed quality are M800’s proprietary infrastructure and hybrid cloud splatform. This is built on a globally distributed network consisting of 28+ global PoPs, direct interconnections with over 160 tier-1 telecom carriers and mobile operators, and a contractual commitment to a 99.95% annual service uptime..

Experience maaiiconnect for free

maaiiconnect‘s Essentials Plan supports both your customers and employees with a suite of web-based communications solutions that keep your customers engaged and staff connected and motivated when working remotely.

Visit our brand new website at www.maaiiconnect.com for more information or go straight to https://signup.maaiiconnect.com to get a head start on your company’s digital transformation.

About maaiiconnect

maaiiconnect provides businesses with an all-in-one solution for customer engagement and internal collaboration. Leveraging an innovative multi-dimensional convergence model, maaiiconnect seamlessly unifies telecom and digital communication channels, such as PSTN, VoIP, websites, apps, and social networks. It is device agnostic, empowering employees to be more productive, as well as providing companies a platform to deliver a suite of multimedia experience to their customers anytime, anywhere, on any device. Learn more at www.maaiiconnect.com.

ABOUT M800

With over 35 years of experience, M800 is a pioneer in the global telecommunications, mobile, and IT convergence industries. The company was created by a group of telecommunications experts to revolutionise global communications. Supported by a proprietary infrastructure and network, M800 is committed to helping companies around the world tackle their toughest communication challenges. Learn more at www.M800.com.

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