Two new CEOs announced
Samsung Electronics has announced an internal reorganization of its businesses with several changes to leadership. The company will have two new CEOs overseeing two divisions: Device Solutions, which is the semiconductors business, and a new SET Division that includes mobile, TVs,and consumer electronics. It’s the biggest change to Samsung’s structure since 2017, when the company appointed three leaders for three separate divisions.
Jong-hee (JH) Han, the head of the Visual Display business, is also now a co-CEO with responsibility for the SET division. Samsung credits him with having led the company to the top position in TV sales worldwide for 15 years running and says he is “expected to strengthen the synergies among the different businesses in the SET Division and help drive new businesses and technologies.”
The other new CEO is Kyehyun Kyung, previously CEO of Samsung Electro-Mechanics. He’s also worked on Samsung’s flash memory product team and the DRAM design team in the past, and will now be tasked with leading Samsung’s all-important, highly profitable semiconductors division.
Samsung has also named heads of North American offices for both the SET and DS divisions, as well as a new CFO, Hark Kyu Park. The management shakeup effectively streamlines the sprawling tech giant’s organizational structure into two businesses for consumer products and components respectively.