Samsung Announces New Leadership And Replaces The 3 Ceos

Samsung announces new leadership and replaces the 3 CEOs

Seoul, Dec 7 : Samsung Electronics on Tuesday replaced all three CEOs in a surprise move that, the company said, was intended to enhance competitiveness and promote future growth.

 Samsung Announces New Leadership And Replaces The 3 Ceos-TeluguStop.com

Han Jong-hee was promoted to vice chairman and CEO and will be in charge of the newly created SET division, which merged the consumer electronics and IT and mobile communications divisions, previously led by Kim Hyun-suk and Koh Dong-jin, respectively.

An expert in TV research and development, Han played a key role in bringing the company’s TV business to the top position.According to Samsung, he will “enhance the synergies between the different businesses in SET division and drive new businesses and technologies.” “

The device solutions (DS) division will be led by Kyung Kye-hyun, who has been Samsung Electro-Mechanics CEO.

Kyung is a semiconductor design expert, having previously led the company’s flash product and technology team.According to Samsung, he will “help maintain the company’s semiconductor leadership and lead innovation within the components business.” “

Kim Ki-nam, vice chairman and head of the DS division, was named chairman of Samsung Advanced Institute of Technology, reports Yonhap news agency.

The tech giant said in a statement the new appointments were made “for the next phase of the company’s future growth and to strengthen its business competitiveness.”

The reshuffle came as a surprise as it had been widely expected that the tech giant would keep its current division heads to ensure a stable management environment amid fierce global competition and potential risks associated with the ongoing trial of Samsung Electronics Vice Chairman Lee Jae-yong over his role in controversial merger and accounting fraud allegations.

The three CEOs had been considered successful in leading the company to post stellar performances since 2018 and were endorsed to keep their posts during the annual shareholders meeting in Suwon, south of Seoul, in March.

But Lee, the de facto leader of the country’s biggest conglomerate, Samsung Group, has hinted at making a sizable change to the company to “create a better Samsung.”

He also warned of the “harsh reality of the market” amid the global supply crunch and chip shortages.

The management reshuffle came a week after the company overhauled its position system and abolished the seniority-based top-down approach to nurture young talent and create a more flexible corporate culture.

It scrapped mandatory years of working at certain positions, a precondition for possible promotion, and incorporated ranks to make the company structure more simplified and nimble.

Lee did not get promoted to chairman of Samsung Electronics — the crown jewel of Samsung Group.

In December 2012, he was elected vice chairman.The chairman position has been left vacant since his father, Lee Kun-hee, died in October last year.


na/dpb #Samsung #leadership #CEOs

Disclaimer : TeluguStop.com Editorial Team not involved in creation of this article & holds no responsibility for its content..This Article is Provided by IANS, Please contact IANS if any issues in Article .


Follow Us on FacebookFollow Us on WhatsAppFollow Us on Twitter