Samsung Merges Consumer Electronics And Divisions
Korean tech giant Samsung announced on Tuesday that it was merging its consumer and electronics divisions to simplify its structure and focus on growing its semiconductor chip business.
What followed was a major leadership change that saw the company’s top three division heads promoted to new co-CEOs starting today, 7th December according to a Reuters report.
As part of this new leadership, Jong-Hee Han, who is responsible for the visual display business, has been promoted to vice president and co-CEO.
He had played a key role in maintaining the company’s leadership position in global TV sales for the past 15 years and in this new role will lead the newly merged mobile electronics and general public relations unit called SET while viewing the visual business.
Kyehyun Kyung, CEO of Samsung Elecro-Mechanics, has also been promoted to Co-CEO and will now lead the company’s Device Solutions (DS) business unit, which focuses on semiconductor and component units, in his new role.
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In November, Samsung also announced plans for a $17 billion semiconductor plant in Taylor Texas and a $205 billion investment plan to address upside problems, commodity prices, logistical difficulties and increasing competition between the two. China and the United States.
Kinam Kim, former vice president and head of DS, has been named president of the Samsung Institute for Advanced Technology. As part of the reorganization, the company also appointed Hark Kyu Park as its new CFO.
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