Since early fall, speculation has loomed large that a huge executive overhaul lies ahead for Samsung.
But based on the news emerging from the South Korean tech giant on Monday, heads are not going to roll as once thought.
Despite Samsung’s ongoing loss of market share to Apple in the intensely competitive smartphone space, the company is sticking with its current leadership.
According to Bloomberg, the three co-chief executive officers at Samsung — including the company’s often criticized mobile chief — are keeping their jobs… for now.
In just six months, South Korea’s biggest chaebol has posted slumping earnings, cut cross shareholdings, announced initial public offerings and pushed an aborted merger of its shipbuilding and engineering units.
“At a time when there’s market uncertainty regarding the company’s fourth-quarter results, and so many changes happening throughout the group’s affiliates, Samsung probably thought it was time to look around and ensure internal stability,” Lee Jin Woo, a fund manager at KTB Asset Management Co., tells Bloomberg.