Samsung announces three new CEOs

Samsung announces three new CEOs

Samsung replaced the leaders of its three main businesses. Kim Ki-nam, 59, was appointed to lead the Device Solutions division. Koh Dong-jin, 56, would head IT and Mobile Communications, and Kim Hyun-suk, 56, would lead Consumer Electronics. The appointments suggest that Samsung Electronics will still run much like it has in the past.

Samsung CEO, Oh-Hyun Kwon departed from his post as head of Samsung Electronics’s semiconductor division and his board position earlier this month. “The next generation of leaders are well suited to accelerate the pace of innovation and address the demands of the connected world” Kwon said.

Kim Ki-nam

The new appointees are all long-serving Samsung employee. Kim Ki-nam joined Samsung in 1981. He was responsible for Samsung Electronics’ semiconductor business. In the past, he ran the memory division and was CEO of Samsung Display. Samsung appointed him to lead the Device Solutions division which makes components including memory chips.

Koh Dong-jin

Koh Dong-jin joined Samsung in 1984. He was formerly the head of mobile R&D and became president in mobile division in 2015.

Kim Hyun-suk

Kim Hyun-suk joined Samsung in 1992. Kim Hyun-suk is an expert in display technology. Kim helped Samsung to dominance in the global TV market.

Samsung also announced its highest ever quarterly profits. It made 14.53 trillion won (about $13 billion). The semiconductor business was the biggest driver.

SOURCE