Samsung Electronics announced its new leadership for the next phase of its growth. Presidents Kinam Kim, Hyunsuk (HS) Kim and Dongjin (DJ) Koh will succeed Vice Chairman Oh-Hyun Kwon, Presidents Boo-Keun Yoon and Jong-Kyun Shin, respectively, as heads of the Device Solutions, Consumer Electronics, and Integrated Mobile Divisions. The company will maintain the current three co-CEO management structure. All new appointments will be effective immediately.
Mr Kwon stated: “The next generation of leaders are well suited to accelerate the pace of innovation and address the demands of the connected world. They have proven track records with extensive experience and outstanding expertise in their fields.”
Kinam Kim joined the Company in 1981 and is an Institute of Electrical and Electronics Engineers fellow and renowned authority in semiconductors, having served as the head of Samsung Advanced Institute of Technology; CEO of Samsung Display; head of the Memory, System LSI Businesses and until now was responsible for the overall semiconductor business.
HS Kim is a leading expert in display products, having played a major role in the company achieving the top position in global TV sales for the 11th consecutive year with numerous display technology breakthroughs.
DJ Koh recently delivered solid results in the mobile business, having overseen the development of its flagship Galaxy smartphones with differentiated products and services, based on his vast experience as the previous head of mobile R&D.
In a joint statement, Mr Yoon and Mr Shin said they have made the decision to follow Mr Kwon’s earlier announcement to resign, making way for new leaders. “It is an honour and a privilege to have been part of the historic rise of Samsung Electronics. We are confident that our successors will keep the company on its growth path.”
Separately, President Sang-Hoon (SH) Lee will leave his position as CFO, effective immediately. Mr Lee has been recommended by outside Board members to be Chairman of the Board and succeed Mr Kwon next March. This would mark the first time that the company will separate the Chairman of the Board and the CEO roles.
“In this time of transition, I look forward to Sang-Hoon’s insight as CFO to help guide the Board and its new executive members,” said Byung-Ki Lee, an independent director and Chairman of the Governance Committee of the Board. “In addition to overseeing the company’s finances, Sang-Hoon was also in charge of running its global operations and these experiences will be a tremendous asset to the Board.”
At the next AGM in March 2018, the three new Division heads, as well as Mr Lee, will join the Board of Directors. Messrs. Kwon, Yoon and Shin will remain as members of the Board until then.