Thursday, May 15, 2008
Samsung Electronics announced a comprehensive reshuffle in its management. Besides the CEO, the company also now has a new top manager in its semiconductor business.
As CEO and Vice Chairman the company named Yoon-Woo Lee who hitherto was responsible for the company's external relationships. Lee will replace current CEO Jong-Yong Yun who will continue to work for the company as standing adviser. Yun has led the Korean electronics giant since 1997.
The President of Samsung's Semiconductor Business, Chang-Gyu Hwang, has been promoted to Vice Chairman and head of Corporate Technology Operations. He will replace Ki-Tae Lee who in the future will lead the company's External Relations operations.
Oh-Hyun Kwon, currently overseeing Samsung Semiconductor's LSI Division, has been promoted to President of the Samsung Electronics' entire semiconductor business. Hyung-kyu Lim, who heads Samsung Advanced Institute of Technology, has received the responsibilities to set up a team dedicated to developing new businesses.
The company justified the changes with the "urgent need to find new growth engines amid fierce competition in the electronics industry," it informed in a press release. At the same time, it announced further changes in the management below the top level.
By: DocMemory
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