Tuesday, October 31, 2017

Samsung Electronics unveils new leadership line-up

Samsung Electronics has named its new leadership team following the resignation of CEO Kwon Oh-hyun.

Three executives have been promoted to joint chief executives of the firm as part of the management overhaul.

The shake-up came hours after the firm reported quarterly profits had nearly tripled from a year ago.

Net profit rose to 11.2 trillion won ($10bn; £7.6bn) during July to September, driven by strong memory chip and smartphone sales.

The new appointees are all in their 50s and include Kim Ki-nam, Koh Dong-jin and Kim Hyun-suk.

They will take up their positions immediately as the heads of Samsung Electronics' three main businesses - Device Solutions, IT and Mobile Communications and Consumer Electronics. "The next generation of leaders are well suited to accelerate the pace of innovation and address the demands of the connected world," the firm said in a statement.

The South Korean tech giant also confirmed that its chief financial officer Lee Sang-hoon had been recommended as the new chairman of the board, and that long-time co-CEOs J.K. Shin and Yoon Boo-keun would step down.

BBC News

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