The best Samsung deals! Galaxy Book 4 series, Watch 6, S24 Ultra or Z Flip 5! - Join SamMobile on Telegram!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Notifications
    News for you

    Samsung CEO’s replacement could be selected this week

    Business
    By 

    Last updated: October 23rd, 2017 at 09:26 UTC+02:00

    Samsung Electronics CEO and Vice Chairman Kwon Oh-hyun announced recently that he was stepping down amid an “unprecedented crisis.” He has been with the company for more than 30 years. He was essentially serving as the de facto head after Samsung heir Lee Jae-yong was imprisoned earlier this year.

    According to a new report, Samsung might select the successor to the CEO as early as this week. An early selection would mean that the transition would be easier when Kwon vacates his post early next year.

    Samsung CEO's Replacement

    Samsung Electronics will have to pick a successor to Samsung CEO Kwon Oh-hyun as he has already made his plans to retire public. Samsung will now be looking to appoint a new head of the device and display business divisions that are currently under Kwon.

    Candidates that are reportedly being considered for this position include the head of Samsung's medical equipment business Jun Dong-soo, Samsung Display senior adviser Park Dong-gun and the head of Samsung Advanced Institute of Technology Chung Chil-hee.

    Rumors also suggest that Samsung could shake up the management positions in the company by swiftly promoting vice president level executives. It will be an effort on the company's part to stabilize the organization so that it can adjust to the new leadership.

    Samsung is already dealing with a leadership vacuum as it is with its heir behind bars. Some reports also suggest that Samsung is thinking about reviving the control tower structure for better organizational management.

    Via Business Lee Jae-yong

    You might also like

    Hotly anticipated Zuckerberg and Samsung boss meeting takes place at historic office

    Hotly anticipated Zuckerberg and Samsung boss meeting takes place at historic office

    Meta CEO Mark Zuckerberg has returned to South Korea after over a decade to meet industry leaders and government representatives, shoring up the company's alliances in the region as it looks to advance AI and XR technologies. It was rumored prior to his arrival that Zuckerberg would likely be meeting with Samsung Chairman Lee Jae-yong. […]

    • By Adnan Farooqui
    • 4 weeks ago
    Samsung meeting expected in Zuckerberg’s first Korea trip in 10 years

    Samsung meeting expected in Zuckerberg’s first Korea trip in 10 years

    Meta CEO Mark Zuckerberg is reportedly heading to South Korea next week. This would be his first visit to the country in over a decade as he last visited the country, which was his first ever trip to Korea, back in June 2013. There aren't a lot of details about his trip available at this […]

    • By Adnan Farooqui
    • 1 month ago
    Samsung chief Lee Jae-yong’s acquittal in merger case appealed by prosecution

    Samsung chief Lee Jae-yong’s acquittal in merger case appealed by prosecution

    Earlier this week, a court in South Korea announced its verdict in the long-pending case related to the merger of Samsung Group's affiliate companies. It was alleged that Samsung Electronics Chairman Lee Jae-yong was involved in market irregularities and illegally boosting the share price of Cheil Industries, one of Samsung Group's affiliate companies. However, Lee […]

    • By Asif Iqbal Shaik
    • 2 months ago
    TSMC and Intel continue to make life very difficult for Samsung

    TSMC and Intel continue to make life very difficult for Samsung

    Samsung is facing intense competition in the semiconductor market, largely due to TSMC's increasing competitiveness as well as Intel's comeback. The supply glut in the memory market and resulting price declines have already been quite painful for the company. It didn't help that Samsung Chairman Lee Jae-yong's absence due to his legal troubles prevented Samsung […]

    • By Adnan Farooqui
    • 2 months ago
    Samsung may finally spend its $60 billion cash to buy companies

    Samsung may finally spend its $60 billion cash to buy companies

    It's not uncommon for companies that have deep pockets to fuel growth through mergers and acquisitions. Samsung is certainly one with deep pockets as its cash reserves are in excess of $60 billion. However, the company has been out of the M&A market since 2017 when it acquired Harman for $8 billion. That might change […]

    • By Adnan Farooqui
    • 2 months ago
    Samsung chairman Lee Jae-yong found not guilty in merger case

    Samsung chairman Lee Jae-yong found not guilty in merger case

    Samsung Electronics chairman Lee Jae-yong has been found not guilty in the case that was connected to the controversial merger of Cheil Industries Inc. and Samsung C&T Corp. These companies were merged in 2015, and it was alleged that Lee Jae-yong was involved in stock price rigging and accounting fraud to solidify his position and […]

    • By Asif Iqbal Shaik
    • 2 months ago