Samsung Names Three New CEOs

Samsung Names Three New CEOs for Three Key Divisions


Kwon Oh-hyun the current Vice Chairman and CEO of Samsung Electronics have announced his resignation by upcoming year, citing an unprecedented crisis. He believes the company needs new leadership to tackle the crisis, therefore, the company came up with three new names focusing specific areas – Kim Ki-nam will be managing the components business, Koh Dong-jin the new in-charge of Mobile and IT, and Kim Hyun-suk will be heading up the consumer electronics.

Co-CEO Boo-keun Yoon or known as BK Yoon (head of the Consumer Electronics) and co-CEO Jong-kyun Shin or JK Shin (Heads the IT and Mobile business) are resigning altogether from their co-CEO roles. Similar to Known, they also will step down from their current positions and leave the board.

Kim Ki-nam who is recommended for CEO profile has already got a stamp of being responsible for the company’s semiconductor business, as a CEO for Samsung Display. The company illustrates Kim Hyun-suk a specialist in display technology, having assisted lead Samsung to dominance in the TV market globally. And while talking about Koh Dong-jin, he was the head of mobile R&D in the past who replace Shin in 2015 as a mobile leader. Kwon addressed the new CEOs the leaders of next generation who are well-versed in their fields to accelerate the pace of innovation and fulfill the market demand.

Samsung is one of the well-known names in the field of mobile phone market. It has generated huge profit by launching its new Galaxy S8 flagship phone that won the market demand. According to a research firm ‘Canaccord Genuity’, it is difficult to generate revenue in the smartphone market unless you are either Apple or Samsung. It simply suggests that Samsung has its own great market share in the field of smartphones. As per the latest data and sources, Samsung proclaimed its uppermost ever quarterly profits. The company has made $13 billion in operating profit of $55.4 billion in returns between July and September. Samsung beating its own record of 14.1 trillion won set last quarter.

The semiconductor commerce was the major driver — Samsung Electronics admits that the Galaxy Note 8 has been a powerful device to win the mobile business but the revenue reduced quarter-on-quarter because the sales of lower-end models topped rather than high-end models.