DUBLIN, Nov. 21, 2024 /PRNewswire/ — Payslip, the leading global payroll control platform, is pleased to announce the addition of David Clarke and Barry Dowling to its Board of Directors. These new appointments bring invaluable expertise in scaling global businesses and driving technological innovation, strengthening Payslip’s position as a leader in global payroll technology.

David Clarke, a Venture Partner at Frontline Ventures, one of Payslip’s existing investors, and former CTO of Workday, brings unmatched experience in enterprise technology and innovation. David has over 20 years of experience in technology strategy and product team scaling, helping high-growth companies drive innovation and operational excellence. David Served as CTO at Workday for 11 years where he led the strategic direction of the company’s HR technology.  As a Payslip board member David will focus on leveraging Payslip’s advanced AI automation technology to transform global payroll operations, optimize efficiencies, and deliver significant value to Workday users and the payroll industry as a whole.

Speaking about his appointment to the board, Mr. Clarke noted “Something I saw a lot during my time with Workday was that global companies struggle with delivering timely, accurate, repeatable payroll solutions for their employees. And they also don’t have a lot of visibility at an analytical level. As payroll is such a vital business function, this is a huge problem. Payslip has a unique approach to helping companies solve all of this. That was the most important factor in Frontline’s decision to invest and my decision to be involved.” 

Barry Dowling, Investor, Advisor, and Founder. Barry is the Founder and former CEO of TransferMate, he has an extensive background in scaling technology companies to international success. With deep expertise in global expansion and operational efficiency, Barry will provide critical insights to support Payslip’s ongoing growth and strategy for delivering world-class payroll technology to multinational organizations.

Speaking about his appointment, Mr. Dowling said, “I’m delighted to be joining Payslip’s board. During my time as CEO of TransferMate I saw the level of commitment and innovation required to scale a global technology company. It has been clear to me from the beginning that the team and the product at Payslip are very well positioned to do just that. I’m looking forward to working more closely with Fidelma and the senior leadership team over the coming years as this incredible journey continues”. 

“We are delighted to welcome Barry and David to the Board,” said Fidelma McGuirk, CEO of Payslip. “Barry’s proven track record in scaling global tech companies and David’s extensive expertise in enterprise innovation and AI-driven automation are perfectly aligned with our vision for the future. Their contributions will be invaluable as we continue to enhance our platform and deliver on our mission to empower global payroll teams.”

These appointments come at a pivotal time for Payslip, as the company accelerates its investment in cutting-edge technology and expands its capabilities to serve Workday users and other multi-national enterprise clients worldwide. By integrating seamlessly with HR systems like Workday, Payslip enables businesses to automate payroll processes, reduce errors, and achieve unparalleled control and visibility across multiple countries and vendors.

For more information about Payslip and its Board of Directors, visit www.payslip.com.

About Payslip

Payslip is a leading global payroll control platform that streamlines and automates global payroll operations for multinational companies. Payslip integrates seamlessly with local payroll vendors and enterprise systems like Workday, enabling organizations to achieve control and visibility across global payroll operations, boosting payroll efficiency by 40%.

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MAGDEBURG, Germany, Nov. 21, 2024 /PRNewswire/ — Sven Schulze, Minister for Economic Affairs, Tourism, Agriculture and Forestry of the State of Saxony-Anhalt, has awarded the newly initiated “Saxony-Anhalt Business Award 2024” to two companies that strengthen the regional economy through special achievements, innovation and commitment. The award is both recognition and motivation for companies and start-ups that overcome economic challenges with creativity and commitment.

At the awards ceremony in the Old Theater Magdeburg, the minister said: “With the Saxony-Anhalt Business Award, we are honoring courageous and innovative companies that achieve outstanding results in our state. Small and medium-sized companies as well as start-ups are the backbone of our economy and crucial for jobs and prosperity. Their ideas, commitment and innovative strength are driving Saxony-Anhalt forward and making it fit for the future.”

In the “Companies” category, Ramme Electric Machines GmbH received the coveted award. Ramme from Osterwieck in the Harz Mountains is a rapidly growing company that produces highly efficient electric motors for the shipping industry and thus contributes to reducing pollutant emissions. With two locations and a workforce that has almost doubled to 115 within two years, Ramme relies on a family-like working environment with flat hierarchies and direct communication. New products such as the tractor engine with over 99 percent efficiency underline the company’s innovative strength. Through regional cooperation and sponsorship of local sports clubs, Ramme is committed to the region in the long term and promotes close ties in the Harz region.

The young company Raydiax GmbH was awarded in the “Start-up” category. The Magdeburg-based start-up is developing an innovative therapy assistance computer tomography system that makes cancer operations more gentle and is in high demand worldwide. The company, which was founded in 2022 and currently employs 20 people, plans rapid growth and market entry through cooperation with leading German clinics. Raydiax’s patented system significantly reduces radiation exposure for patients and medical staff and opens up new treatment options. With an ERDF funding application, Raydiax also wants to further promote excellence in interventional radiology in Saxony-Anhalt and contribute to improving regional healthcare.

The aim of the Saxony-Anhalt Business Award is to focus on all those companies and sectors that have a lasting impact on the state’s economic development through their achievements and innovative strength. It is awarded to small and medium-sized companies with up to 250 employees and to start-ups that have their headquarters in Saxony-Anhalt and stand out through special projects, products or business models.

A total of 115 applications were received – 63 in the “Companies” category and 52 in the “Start-ups” category. The high-caliber jury assessed the criteria of economic development, innovative strength, securing skilled workers and responsibility for the region. Start-ups also had to demonstrate success in terms of market demand and growth potential. Nine companies that particularly met the criteria were ultimately shortlisted.

The prize money was €15,000 for companies and €10,000 for start-ups. They will also be included in the state’s communications as “ambassadors of success”.

More Information: www.wirtschaftspreis-sachsen-anhalt.de 

Presskit_Wirtschaftspreis_2024

Contact Details: Sabine Kraus, +49 391/568 9920, [email protected] 

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Strategic Restructuring to Enhance Synergy and Drive Growth in Key Business Areas

SEOUL, South Korea, Nov. 21, 2024 /PRNewswire/ — LG Electronics (LG) today announced a series of organizational changes and executive appointments following the approval of its board of directors. This restructuring aims to accelerate the company’s mid- to long-term strategy, “Future Vision 2030,” by enhancing inter-organizational synergy and innovating its business portfolio.

The restructuring focuses on regrouping LG’s business operation units^* to maximize the potential of existing businesses, strengthen platform-based service operations, accelerate B2B initiatives and secure new growth engines in promising sectors. These changes are designed to enhance efficiency through the strategic selection and concentration of capabilities, thereby creating greater synergy between businesses and bolstering future competitiveness.

To spearhead this transformation, LG has appointed skilled individuals with exceptional expertise, emphasizing the enhancement of the company’s long-term competitiveness through the development of high-performing organizations.

Key Changes in Business Structure

A new Company will be established to bolster the growth of the heating, ventilation and air conditioning (HVAC) business, a crucial component of LG’s B2B acceleration strategy. The Overseas Sales & Marketing Company will now function as the overseas B2B control tower. Additionally, display-based operations – including TVs, monitors and signage – will be integrated to foster synergies and expand platform-based service businesses. New growth engines will be strategically relocated to Companies with greater business relevance, ensuring more stable support and creating synergies across business areas.

All four Companies will now incorporate “Solution” in their names, reflecting LG’s evolution into a Smart Life Solution provider that connects and enhances customer experiences across various environments, including homes, commercial spaces, mobility and virtual platforms.

Restructuring of Companies

LG has restructured its four Companies into the Home Appliance Solution (HS) Company, the Media Entertainment Solution (MS) Company, the Vehicle Solution (VS) Company and the Eco Solution (ES) Company. This reorganization redefines their roles and identities within LG.

The H&A Company will be renamed HS Company to align with its vision of “Zero Labor Home, Makes Quality Time.” To support this vision, LG will move the Platform Business Center – responsible for the planning, development and operation of LG ThinQ – directly under HS Company. This strategic realignment aims to establish HS Company as a leader in AI solutions across diverse spaces, including homes, commercial areas and vehicles, effectively addressing customer needs outside traditional home settings. Furthermore, HS Company will incorporate the Robot Business Division from the BS Company to integrate core robot technologies into its home robot solutions. Lyu Jae-cheol will continue to lead HS Company.

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The HE Company will change its name to MS Company to align with its goal of becoming a media and entertainment platform powerhouse. It will integrate the Information Display business and Information Technology business from the BS Company with its TV business to create synergies in hardware and platform operations. Park Hyoung-sei will continue to lead the MS Company, driving its transformation into a media and entertainment platform.

The MS Company will accelerate the expansion of platform-based service business areas by broadening the application of webOS, which was primarily used in smart TVs, to monitors, signage and in-vehicle infotainment systems. webOS will evolve into an integrated content and services platform for both indoor and outdoor use, enhancing competitiveness through synergy and improved business structure.

The VS Company will clarify its role by changing its name from Vehicle component Solutions Company to Vehicle Solution Company, emphasizing its commitment to providing innovative solutions across the entire automotive ecosystem. Eun Seok-hyun will continue to lead the company.

The ES Company has been newly established. The HVAC business, previously part of the H&A Company and a significant contributor to LG’s B2B growth, will now operate as a standalone entity under the ES Company. Lee Jae-sung, the current head of the Air Solution Business Division, will lead the ES Company, ensuring continuity in the HVAC business and maintaining its strategic direction.

Given the project-based nature of the HVAC business and the specific characteristics of the market and its customers, LG has determined that operating it as an independent Company will maximize future competitiveness and growth potential. With the establishment of the ES Company, LG aims to position itself as a global leader in comprehensive air solutions.

Additionally, the ES Company will assume responsibility for the electric vehicle charging business from the BS Company and play a pivotal role in driving B2B growth within the clean tech sector, one of LG’s key future growth engines.

Meanwhile, to enhance the competitiveness of overseas B2B operations, LG will establish the B2B Business Capability Enhancement Division under the Overseas Sales & Marketing Company.

The Chief Strategy Office (CSO), acting as LG’s future strategy control tower, will also oversee AI acceleration and respond to global AI developments. The Chief Digital Office, previously responsible for digital transformation, will be reorganized into the DX Center and transferred directly under the CSO. The DX Center will focus on driving business performance through generative AI technologies and will be led by Cho Jung-bum.

The executive appointments emphasize the selection of diverse talents with proven expertise in sales, services and R&D. Jung Pil-won, currently leading the TV Overseas Sales & Marketing Group, has been appointed as the MEA Region Representative, recognizing his extensive experience in overseas sales management and his deep understanding of the Middle Eastern and African markets. Additionally, Kim Jung-ho, Kim Yoo-seon and Choi Jung-won, who head the subsidiaries in Saudi Arabia, Poland and Malaysia respectively, have been promoted to executive positions in acknowledgment of their significant contributions to business growth.

All appointments are effective December 1, with promotions taking effect on January 1.

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^* LG’s major business operation units are called “Companies.”

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 82 trillion in 2023. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, automotive components and solutions, and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.

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