Samsung revamps its global leadership team


The company said former unit chiefs, Kwon Oh-hyu, Yoon Boo-keun, and Shin Jong-kyun - who were outed in the first round earlier this week - will not be involved in the firm's daily operations, but remain at the tech giant as advisers.

Samsung Electronics has announced a number of promotions, with seven executive VPs moved up to president.

The leadership changes came as Samsung announced record third-quarter profits - largely from strong demand for memory chips used in servers and mobile devices.

Kwon Oh-hyun, who had announced to step down from all of his posts on October 13, will be heading Samsung Advanced Institute of Technology.

Lee will fill the board position of the former CEO, Kwon Oh-hyun, who abruptly announced his resignation last month, saying Samsung needed "a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry". Tim Baxter is a sales and marketing expert, according to Samsung.

Inyup Kang, Head of System LSI Business, will now also be its president and maintain his current role.

Jung, a graduate of Harvard Business School, served as vice president and president in charge of management diagnosis and human resources at the Future Strategy Office from April 2014 until the office was disbanded.

Jong-Hee Han was named president and head of Visual Display Business.

Jun Yong-bae, former executive vice president of Samsung Fire & Marine Insurance, has been named as the chief of Samsung Ventures.

Looking ahead, Samsung's component business, especially its memory chips and advanced flexible displays called OLED, will drive the improvement of its financial performance during the fourth quarter and next year, Samsung said.

Hwang Deuk-kyu, 58, who has been overseeing the company's semiconductor complex in Hwaseong, has become president and head of Samsung China.

The heads of the company's three divisions and the company's three new co-CEOS, Kinam Kim, HS Kim, and Dongjin (DJ) Koh, will assume additional roles associated with their respective new posts. Koh Fong-jin had taken over in 2015 to be the mobile leader from Shin and was previously head of mobile R&D.

Most other senior executives added "president" to their current job titles. They are set to leave the board of directors as of March 2018.

Samsung said his expertise will help guide future technology development.

In a joint statement, Yoon and Shin have shown their confidence in the new candidates, and are confident in their ability to lead the company forward.