Samsung reshuffles executives amidst chip market challenges
Samsung Electronics made some changes in its leadership in an attempt to become more competitive in the AI chip market. The company announced that it promoted Semiconductor chief Jun Young-hyun to co-CEO to better manage the memory chip business.
Han Jin-man, the head of the US chip business, was promoted to head of the foundry business.
The reshuffle saw Samsung"s stock price slide 3.4% as the changes are unlikely to "calm concern" about how the company will navigate risk associated with the protectionist policies of US President-elect Donald Trump, reported Reuters.
Jong-Hee (JH) Han, Vice Chairman, CEO and Head of Device eXperience (DX) Division at Samsung ElectronicsThe Business Support Task Force kept its leader, Chung Hyun-ho, and some analysts argued that changes need to be made among the biggest decision-makers, such as Chung, who is also second-in-command to Chairman Jay Y. Lee. President and CFO Park Hark-kyu join the team, as Samsung is yet to name a new person for the top financial position.
