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Samsung Announces New Leadership

Samsung Electronics announced its new leadership, following the recent resignation of CEO Oh-Hyun Kwon.

Presidents Boo-Keun Yoon and Jong-Kyun Shin have also decided to step down, and Samsung named three new co-CEOs. In addition, CFO Sang-Hoon Lee is stepping down in order to become chairman of the company.

The new co-CEOs are Kinam Kim, Hyunsuk (HS) Kim, and Dongjin (DJ) Koh, who all take up the new positions immediately.

Koh remains head of the mobile business, where he has overseen development of the flagship Galaxy smartphones. HS Kim, previously president of the visual display business, becomes head of the Consumer Electronics division. He is an expert in display products, Samsung said, and helped the company achieve its top position in global TV sales.

Kinam Kim will be the new head of the Device Solutions division. He is an authority in semiconductors, having served as the head of Samsung Advanced Institute of Technology, CEO of Samsung Display, head of the Memory, System LSI businesses and until now responsible for the overall semiconductor business.

Separately, President SH Lee will leave his position as CFO, effective immediately. Lee has been recommended by outside board members to be Chairman of the board and succeed Kwon next March. This would mark the first time that Samsung separates the chairman position from CEO.

At the next AGM in March 2018, the three new division heads as well as Lee will join the board of directors. Kwon, Yoon and Shin will remain as members of the board until then.

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