Samsung Electronics appoints two CEOs in major reshuffle
Samsung Electronics has appointed two new CEOs to replace its three co-CEOs, as the tech giant moves to merge its mobile and consumer electronics divisions, in efforts to focus on growing its chip business.
The company’s biggest reshuffle since 2017 comes after vice-chairman Jay Y Lee was paroled after serving seven months of a two-and-a-half-year jail term, for bribery.
According to a statement, Jong-Hee Han was promoted to vice-chairman and CEO of Samsung Electronics, and will lead the newly-merged SET division, as he continues to head the Visual Display Business.
President Kyehyun Kyung was also named CEO and will lead the DS division, which includes products such as memory, foundry and system.
Han has a wealth of experience in TV research and development, and has played a major role in Samsung achieving the top position in global TV sales for the 15th consecutive year, notes the company.
He is expected to strengthen the synergies among the different businesses in the SET division and help drive new businesses and technologies.
Kyung, who has been CEO of Samsung Electro-Mechanics, is an expert in semi-conductor design, having previously been head of Samsung’s flash product and technology team, as well as part of the DRAM design team.
He is expected to help maintain the company’s semiconductor leadership and lead innovation in the components business.
Samsung is among the world’s biggest producers of memory chips, smartphones and electronic displays.
The company is merging its mobile and consumer electronics divisions.
Other promotions and changes include:
- Yongin Park, named president and head of system LSI business; previously executive VP and head of system LSI sales and marketing.
- Hark Kyu Park, named president and chief financial officer; previously president and head of the corporate management office, DS division.
- Kinam Kim, named chairman of Samsung Advanced Institute of Technology; previously vice-chairman and head of the DS division.
- KS Choi, named president and head of North America office for SET division; previously executive VP and head of North America Office.
- Inyup Kang, named president and head of North America office for DS division; previously president and head of System LSI Business.