Samsung named three new executives after the resignation of the CEO

By: Bohdan Chub | 31.10.2017, 11:11
Samsung named three new executives after the resignation of the CEO

Along with record results for the third quarter, Samsung Electronics announced the appointment of three executive directors who will lead the company's key divisions after CEO Kwon O Hun's resignation. The current leaders of consumer electronics and mobile business - Bu Kun Yun and Jong-Kyung Shin - are also leaving their posts.

Three-headed Samsung

From left to right: Ki-Nam Kim, Hyun Souk Kim and Dee-Jay Co.

The head of the semiconductor business of Samsung Ki-Nam Kim was appointed president of the entire hardware solutions division of Device Solutions (the release of chips, displays and other components). Head of Visual Display Business Hyun Suk Kim will head the consumer electronics division. The president of the mobile direction DJ Dee Jay Co., who can be seen on the stage during the presentations of Samsung's flagships, will be responsible for the work of the IT & Mobile Communications division.

Samsung decided to dwell on the management structure with three co-leaders without a CEO. As noted by the current CEO, the next generation of leaders will accelerate the pace of innovation to meet the requirements of the "connected world." The successor of Kwon O Hun at the post of the head of the board of directors may become Li San Hung, who left the post of financial director of the corporation.

Staff reshuffles in the camp of Samsung occurred after the arrest of the actual head of Li Zhe Yong - he was sentenced to five years in prison.

What about finances?

Samsung's revenue for the third quarter increased by 29.7% to $ 55.4 billion, and operating profit reached a record $ 13 billion due to high demand for memory chips. The company is pleased with the sales of the flagship Samsung Galaxy Note 8, but due to the popularity of models of the younger Galaxy J line, the revenue of the mobile unit slightly decreased compared to the previous quarter.

In the period from July to September, the manufacturer sold 97 million mobile devices, with 80% of shipments accounted for smartphones (more than 77 million units).

Source: Yonhup