Samsung Crowns New CEO as Major Leadership Transition Looms

On Thursday, Samsung Electronics revealed new plans for its longtime CEO. The company with a long tradition of family-rule is preparing to transfer control to a third generation. Reuters confirmed this week that former chief executive Choi Gee-sung will become head of corporate strategy at Samsung. Crucially, he is widely seen as chief mentor to …   Read More

1181 0
1181 0

On Thursday, Samsung Electronics revealed new plans for its longtime CEO.

The company with a long tradition of family-rule is preparing to transfer control to a third generation.

Reuters confirmed this week that former chief executive Choi Gee-sung will become head of corporate strategy at Samsung.

Crucially, he is widely seen as chief mentor to Jay Y. Lee, son of Samsung Electronics’ chairman Lee Kun-hee and the group’s heir apparent. Jay Y. Lee, 43, stays as chief operating officer.

“Jay Y. Lee is in the final stage of being groomed … and Choi will help in this process, helping him look into the group as a whole, not just the electronics unit,” said Chung Sun-sup, head of chaebul.com, tells Reuters.

For now, Kwon Oh-hyun will serve as Smasung’s new CEO.

“There’ll be no major changes in overall strategy as Kwon will continue to oversee the components business, while telecoms and consumer electronics are separately run by other executives,” speculates James Song, an analyst at KDB Daewoo Securities.

In this article