LG denies Manikandan's exit

NEW DELHI, INDIA: Reacting to a news item in the DQ Channels Solutions Alert last week, Yasho V Verma, Director—HR and MS, LG Electronics India, has denied that LG's GM—Sales and Marketing for IT Products, R Manikandan, was leaving the company.

The front-page news report had stated, based on rumors in the channel community that Manikandan was moving on from the company—either due to a new job at a Videocon JV, or because of sales performance at LG Electronics India. The report also mentioned that the notebook portfolio had been taken from Manikandan.

In a letter to Solutions Alert, Verma said, "There is no element of truth in the news report. R Manikandan is not serving notice period in the company. We also clarify that the PC business was shifted purely as a part of organization re-structuring, and has no connection whatsoever with any performance parameters."

The letter also stated that LG was "doing well in the IT business" and that its performance was very much in line with its business plans drawn for the year.

The original news item in Solutions Alert had already carried Manikandan’s own denial, “It is not true that I am quitting LG. It is just a market rumor. I have no clue where this information originated.” The item had also quoted V Ramachandran, Director—Sales and Marketing, LG as saying, "It is not correct that Manikandan is serving notice period in LG. He is very much part of LG."

Editor's note: Our reporter had based the report on reliable sources. However, as the company has officially clarified that there is no such move, we accept the company's position on the subject, and regret the error and inconvenience caused to Mr Manikandan and to LG Electronics.