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`Samsung Electronics Vice Chairman’s First Reshuffle Reflects Generational Change
`Group announces a regular personnel change involving seven group presidents, including three promoted to president
`
`30(Tue), Dec, 2014
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`Samsung Electronics Vice Chairman Lee Jae-yong has opted for generational change and stability over a massive overhaul in conducting his first
`regular reshuffle of group executives.
`Samsung Group on Dec. 1 announced a regular personnel change involving seven group presidents, including three promotions to president, the
`lowest number in the recent years.
`Contrary to expectations, a trio of Samsung Electronics executives -- President Shin Jong-kyun of the IT & Mobile Communications (IM) Division,
`President Kwon Oh-hyun of the Device Solution (DS) Division, and President Yoon Boo-keun of the Consumer Electronics (CE) Division -- have been
`retained. The current management echelons appears to have been kept intact in consideration of the ailing Samsung Group Chairman Lee Kun-hee and
`a number of pending issues such as lower-than-expected performances of the business group’s flagship company.
`The three retained presidents in the IM Division are President Shin, President Kim Jong-ho of the Global Manufacturing Center, and President Kim
`Young-ky of the Network Business Department. The IM Division — which once chalked up more than 6 trillion won in operating profit due to its excellent
`performance in the smartphone business segment — dropped to profit levels seen in the segment of general mobile phones.
`Three of
`the seven presidents in the IM Division — President Lee Don-joo in charge of strategy marketing, President Kim Jae-kwon in charge of
`global operation, and President Lee Chul-hwan in charge of development — have been relieved of their posts, taking responsibility for the worsening
`performances of Samsung Electronics and its sagging smartphone business.
`President Hong Won-pyo, head of the Media Solution Center, also moved from the IM Division to the Global Marketing Strategy Office.
`Kim Hyun-seok, head of the Image Display Business Department of the CE Division, was promoted to president, while Samsung Electronics Senior
`Executive Vice President Jun Young-hyun was appointed to president in charge of DS Division’s Memory Business Department.
`Samsung Display Senior Executive Vice President Lee Yun-tae was promoted to Samsung Electro-Mechanics president, replacing President Choi
`Chi-hoon.
`Samsung BP Chemicals Senior Executive Vice President Sang Young-jo was made Samsung C&C senior executive vice president, while President
`Cho Nam-sung of Samsung SDI’s Materials Division was appointed to be Samsung SDI president.
`President Yook Hyun-pyo, in charge of strategy support at Samsung Economic Research Institute, was tapped to be S-1 Corp. president and CEO.
`Samsung Asset Management President Yoon Yongam was made Samsung Securities president and CEO.
`Samsung Engineering President Kim Jae-yul, in charge of management planning, moved to Cheil Communications to join his wife Lee Seo-hyun, a
`daughter of Samsung Group Chairman Lee, to jointly head the communications company.
`Word is circulating that President Kim could make a run to become a member of the International Olympic Committee on which Group Chairman Lee
`now sits.
`Samsung Securities President Kim Seok was made president of the Samsung Social Contribution Committee.
`President Park Sang-jin of Samsung SDI Energy Solution Division moved to Samsung Electronics President to be in charge of external affairs.
`Samsung Futures President Kim In-joo has virtually demoted by being transferred to president in charge of strategy at Samsung Economic Research
`Institute. He once served as head of the Samsung Group’s financial team.
`The reshuffle has been designed to ensure stability, generational change and offer reward to meritorious persons and disadvantages to
`underperformers, according to business sources.
`“This year has seen most group subsidiaries, including Samsung Electronics, post lackluster performances, so less promotions have been made than
`previous yearsa,” said Executive Vice President Lee Jun in charge of communications at the Samsung Group Future Strategy Office.
`The average age of the newly promoted presidents has declined from 54.3 years old in 2013 to 53.7 year old this year.
`
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