Samsung Electronics announced today that it will merge its mobile and consumer electronics businesses, as well as appoint new co-CEOs, in its most significant reorganization since 2017, in order to streamline its structure and focus on boosting its logic chip business. Following Vice Chairman Jay Y. Lee's bribery conviction in August, the broad move is the latest evidence of centralized upheaval at the world's largest memory chip and smartphone maker.
Han Jong-hee, the leader of the visual display company, has been appointed to vice chairman and co-CEO, and will oversee the newly amalgamated division, which includes mobile and consumer electronics, as well as the TV business. Han rose through the ranks of Samsung's visual display division despite having no prior expertise with mobile. Samsung Electro-Mechanics CEO Kyung Kye-hyun has been chosen co-CEO of Samsung Electronics and will manage the chip and component division. The newly amalgamated companies are of varying...
