Samsung announced an internal reorganization of its activities which includes several leadership changes. The company will have two new CEOs who oversee two divisions: Device Solutions, which is the semiconductor business, and a new one division SET which includes mobile devices, TVs and consumer electronics. This is the biggest change in Samsung’s structure since 2017, when the company named three leaders for three separate divisions.
Samsung changes leadership: space for semiconductors?
Jong-hee Han, the head of the Visual Display industry, he is now also a co-CEO with responsibility for the SET division. Samsung credits him with leading the company to the top position in TV sales worldwide for 15 consecutive years and says it “is expected to strengthen synergies between the different businesses of the SET division and help drive new businesses and technologies “.
The other new CEO is Kyehyun Kyung, formerly CEO of Samsung Electro-Mechanics. The executive has also previously worked on Samsung’s flash memory team and DRAM design team, while now he will be tasked with leading the company’s all-important and profitable semiconductor division.
Samsung has also appointed North American office heads for both SET and DS divisions, as well as a new CFO: Hark Kyu Park. The reorganization of the management is designed to streamline the organizational structure of the Korean technology giant as efficiently as possible into two distinct activities, respectively dedicated to products and consumer components.
This choice probably also derives from the company’s willingness to focus on the semiconductor business, of which there has been a lot of lack on the market for a couple of years this part due to the Covid pandemic.