After Galaxy S4 Launch, Samsung Appoints Two New Co-CEOs
Just as the much awaited Samsung Galaxy S4 was launched, the South Korean multinational electronics company announced the appointment of presidents Yoon Boo-keun and J.K. Shin as co-CEOs of Samsung Electronics. They’ll be joining current vice chairman and CEO Kwon Oh-Hyun.
Samsung Electronics now has three CEOs, serving alongside COO, president, and likely future Samsung head Lee Jae-yong.
Samsung wrote in a press release,
The new appointments recognize the strong performance of President Yoon and President Shin.
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 new leadership structure will serve to clarify and enhance independent management” of each division, according to the company.
President Yoon looked after the consumer electronics division, including Samsung’s TV line, and president Shin oversaw mobile. Vice Chairman Kwon is in charge of Samsung’s component business, Samsung Semiconductor, which produces computer memory and the Samsung Exynos line of mobile processors, among other things.
The move will perhaps provide a functionally equal level in the corporate hierarchy to the various division heads.