Samsung has announced a restructuring of the company, which involves, among other movements, the merger of two of its business divisions into one and the change of several CEOs who were in charge of its main divisions. The merged divisions are those of mobile and that of Consumer electronics. What’s more, Han jong-hee, who until now was the President of Samsung’s Visual Displays division, has been promoted to CEO, and will be in charge of monitoring the newly created division: SET.
Parallel, Kyung kye-hyun, an expert in semiconductor design and CEO of Samsung Electro-Mechanics, has been promoted to CEO of the Device Solutions Division, which encompasses the semiconductor area of the company. In recent months, Samsung, which in addition to being a leader in sales of mobile phones and televisions has a large share of the market for the sale of memory chips to all types of manufacturers, has seen this grow as a result of the increase in demand for equipment due to the increase in teleworking, and the need for data centers to store more files online.
Last October, Samsung also had its fastest growing quarter, thanks to strong demand for equipment and higher prices for its memory chips. Among these results, it stands out that the company’s semiconductor area achieved a 16% increase in sales in the third quarter.
From Samsung they have pointed out that the changes they have undertaken in the group, which includes the appointment of a new CFO, Hark Kyu ParkThey have been to drive growth in the future and to strengthen competitiveness. They switched to a three-CEO structure in 2013, and the changes he just made are the most relevant since he was promoted to CEO to three presidents in 2017.