Source: LinkedIn

Tim Baxter is currently President and CEO of Samsung Electronics North America in New York City. However, come this June, Mr. Baxter will retire from his position and leave Samsung.

Mr. Baxter made the announcement on his LinkedIn profile.

Although he uses the word “retire” in his announcement rather than “resign,” it’s unlikely that Mr. Baxter is going to enter the retirement phase of his life. He is only in his 50s so retiring this early would be an unexpected step for someone with 12 years of corporate leadership at one of the largest companies in the world. However, he did not disclose his future plans in his brief LinkedIn post, so it could very well be that he plans to retire early.

His LinkedIn announcement is republished here:

Regardless of his future plans, Mr. Baxter is leaving Samsung when the company — especially its mobile division — is at a crossroads. With the smartphone industry’s overall sales in a decline and even primary U.S. rival Apple having trouble sustaining growth, 2019 will be a pivotal year for Samsung.

The company is betting big that its revamped design and product strategy for its flagship Samsung Galaxy S10 will be a hit, as well as the long-awaited launch of its foldable phone. Mr. Baxter will retire from his post only a few months after both those products are officially unveiled.

YH Eom — another Samsung North America CEO and currently head of the area’s mobile division, according to his LinkedIn profile — will replace Mr. Baxter when he leaves.

NEXT: Apple hires Samsung battery bigwig: More durable iPhone batteries incoming?

Read comments