Samsung has announced a major reshuffle since 2017, where the company has merged its mobile and consumer electronics units. They have also reshuffled CEO’s and have named Han Jong-hee as its new chief executive officer and vice-chairman of the new merged divisions. He will also continue to lead Samsung’s visual display division too.
In a statement issued by Samsung Electronics, they have said that the new CEO is expected to strengthen synergies among different businesses and will drive new business and technologies. The company also named Kyung Kye-Hyun the new chief executive in charge of the Samsung electronics semiconductor division. Kyung is a semi-conductor design expert who will maintain the company’s semiconductor leadership.
This move comes in as a sign of active involvement by Vice Chairman Jay Y Lee after his parole in August from a bribery conviction. This reshuffle is to simplify its structure and to focus more on the growing logic chip sector.
The shuffle showed that the company still gives importance to its performance-driven culture and also shows Jay Y Lee’s active engagement in management decisions. Since he was released from prison he had traveled to the US to conclude and announce plans for a 17 billion dollar plant in Taylor, Texas. He also traveled to the Middle East where Samsung Electronics and Samsung C&T will be a part of new projects.
The whole structural simplification was done by keeping in mind to grow and to better compete with their US archival Apple INC. Samsung lacks seamless integration between their gadgets and phones. The merger will now help fix the issue where a user can use one operating system for phones, PC and television.
There may also be more prompt execution of funds and/ or decision-making in the coming days by the Korean tech giant. Samsung will be focusing more on sectors like semiconductors, artificial intelligence, robotics, and bio pharmaceuticals in the next three years.
