June 29, 2022
SAMSUNG ELECTRONICS LAUNCHES A 5G CHIP FOR AUTOMOTIVE SERVICES

SAMSUNG ELECTRONICS LAUNCHES A 5G CHIP FOR AUTOMOTIVE SERVICES

South Korean tech giant in the latest move replaced all three CEOs in order to enhance competitiveness and promote future growth.

The latest move by the company on management reshuffle comes a week after it revamped its position system and abolished the seniority-based top-down approach to support young talent and create a more flexible corporate culture.

The company got rid of mandatory years of working at certain positions, a precondition for a possible promotion, and incorporated ranks to make the structure more simplified and nimble.

Following are the new appointees –

• The tech giant has promoted Han Jong-hee, to vice chairman and CEO.
• Jong-hee would be in charge of the newly created SET unit, which merged the consumer electronics and IT and mobile communications divisions.
• Han is credited to be an expert in TV research and development, whilst also known to play a key role in bringing the company’s TV business to success.
• Kyung Kye-hyun, who has been Samsung Electro-Mechanics CEO, will lead the company’s device solutions (DS) division.
• Kyung is reported to be a semiconductor design expert and is credited to lead the company’s flash product and technology team.
• Kim Ki-nam has been named as chairman of Samsung Advanced Institute of Technology, he was the vice-chairman and head of the DS division.

According to the tech giant, new appointments have been made for the company’s next phase of future growth and strengthening of its business competitiveness. It believes that the consolidation between consumer electronics and IT and mobile communications divisions will create synergies between the two closely-related sectors.

Amid fierce global competition and potential risks associated with the ongoing trial of Samsung Electronics Vice Chairman Lee Jae-yong over his role in controversial merger and accounting fraud allegations, industry experts were rather surprised by the reshuffle. It was widely expected that the tech giant to ensure a stable management environment would keep its current division heads.

The new three CEOs are well credited in leading the company to post stellar performances since 2018 and were also endorsed to keep their posts during the annual shareholder’s meeting in March.