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In A Confusing Move, Samsung Appoints Two New Chief Executives

In a hugely confusing move, the South Korea electronics giant Samsung announced an unprecedented change in leadership, adding two new CEOs to the company. Yes, you read that correctly. So, as of today, South Korea’s tech behemoth Samsung has three Chief Executive Officers.

Presidents Boo-keun Yoon and JK Shin have been appointed co-chief executive officers. They will join company’s chief and its chairman of the board Oh-Hyun Kwon, meaning the company will now have three CEOs.

Despite their new appointments, Oh-Hyun Kwon will stay in charge of Samsung’s Consumer Electronics Division, including TV and appliance products; JK Shin will continue leading the company’s IT & Mobile Communications Division, and Oh-Hyun Kwon will continue to oversee Samsung Electronics’s component business.

“The new leadership structure will serve to clarify and enhance independent management of the two set divisions, as well as the independent management of the set and component businesses,” the company said in a brief statement.

Samsung also reported sales of $52.6 billion, a 19 percent increase over same period a year earlier.

Nearly half of that revenue came from its mobile communications division, particularly strong sales of its Galaxy S3 smartphone and Galaxy Note 2 phablet.

About the AuthorProfessional

Amarendra is the Chief Executive Officer and Editorial Director at CEOWORLD Magazine, and is responsible for all business management, company operations, finance, and social advertising operations.

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