Samsung promotes 99 executives in chip-making unit

Business

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Samsung has promoted a total of 221 executives—118 vice presidents, 60 senior vice presidents, 27 executive vice presidents, 15 masters and one fellow—with 99 of them coming from its lucrative chip business, revealed The Korea Herald on Thursday, November 16.

“The promotion of 99 executives reaffirmed the firm’s personnel principles thoroughly based on performance,” said a Samsung spokesperson. “Within the chip unit, more than 50% of promotions came from the research area that was the base for the latest record earnings.”

In the July to September period, Samsung recorded a total operating profit of 14.5 trillion won ($13 billion), with 70 percent coming solely from its chip-manufacturing division—so it's only fitting that those responsible for the firm's success deserve a promotion.

Samsung promoted seven female and nine foreign executives

The Korea Herald also reported that Samsung promoted seven female and nine foreign executives, including senior vice presidents James Elliott, Dermot Ryan, Hadrian Baumann and Dipesh Shah, all of whom led their divisions to achieve record sales figures in the quarter.