Samsung Electronics appoints two new co-CEOs
Samsung Electronics has promoted president Yoon Boo-keun and J.K. Shin, who oversaw its consumer electronics and mobile business. The two have been promoted as co-CEOs who are joining current vice chairman and CEO Kwon Oh-hyun and will serve alongside president and COO Lee Jae-yong.
Samsung said in a press release that the move “will serve to clarify and enhance independent management” in its separate divisions. Boo-keun is the head of the Korean tech giant’s consumer electronics division while Shin is the head of Samsung Mobile, and Oh-hyun is overseeing Samsung Semiconductor, the Korean tech giant’s component business, which makes everything from computer memory to Samsung’s line of Exynos mobile processors among other things.
“Under President Yoon, Samsung’s TV business maintained and solidified its global leadership position after becoming global No. 1 in 2006. Under President Shin, Samsung’s mobile business posted significant growth and attained global No.1 position in smartphones in 2011 and in overall mobile phones in 2012,” the company said in a press release Friday morning.
Under President Shin, Samsung Mobile has indeed seen a lot of success. The Korean tech giant reported $8.3 billion in operating profit with Samsung’s mobile communications business playing an integral roll in that. The Korean-based company recognized this saying, “The new appointments recognize the strong performance of President Yoon and President Shin.”