Successful LG CEO Koo Bon-moo (73) died

Koo Bon-moo, the chairman of the South Korean multi-billion dollar LG Group, died at the age of 73. The top man had been ill for a long time and was undergoing treatment in the hospital for about a year.

This year, Koo underwent a number of brain operations. Recently he was admitted to the hospital in Seoul, because he quickly deteriorated. LG reports that he died in the presence of his family.

Koo has been chairman of the LG Group for the past 23 years. Under his leadership, sales increased from about 30 billion in 1995 to over 120 billion euros last year. The billion-dollar business is the fourth largest company in South Korea. The conglomerate is active in the electronics, chemical, telecom and domestic products markets.

Family business

Koo refused further treatment. The entrepreneur leaves behind his wife, two daughters and an adopted son. That son, now 40, is seen as the successor of Koo.

LG Group has been owned by the Koo family since 1947. He took over the company from his father in the 1990s, who had taken over the business from Koo's grandfather. The younger brother of Koo took over the day-to-day management when the CEO became ill.

The family has announced that Koo will be buried in private. LG Group also asks not to send flowers or condolences. Koo, according to his family, did not like complicated formalities and never wanted to be a burden to others.

KLM CEO Elbers: we can not do without Air France

A breach between Air France and KLM is by no means at issue. KLM CEO Elbers considered such a split in the TV program Buitenhof inconceivable, although he emphasized that the French should quickly put things in order, because the damage of the pilot strikes at Air France threatens to become too great.

The strikes have Air France-KLM so far cost 400 million euros, this week was announced. This means the annual profit of Air France last year almost evaporated. “Of that 400 million you can also buy two Boeings 787,” said Elbers.

Air France CEO Janaillac also stepped up after the striking pilots refused to sign a wage agreement. It is “a very turbulent time”, Elbers said. “We have now completed fifteen days of strikes with major effects, especially for our customers.”

Strong brother

Although Elbers acknowledges that KLM has recently been responsible for the “majority of the financial results” within the group, a divorce is not an option for him. “Together we have a good starting position with the airports Schiphol and Charles de Gaulle, and thanks to Air France we now fly to fifteen destinations in South America and we can close better deals as a big party. It's nice to have a French brother next to you. but it must be a strong brother. “

The CEO was also visibly annoyed about the power outage at Schiphol two weeks ago. “In the first week of the May holiday, things went well, but after that it went into the soup.” He did not seem to agree with closing roads to Schiphol. “That is a very drastic decision, and our pilots can not get to the airport either.”