Executive Personnel Changes Excluding Presidents Expected to Involve Large-Scale Promotions and Appointments
[Asia Economy Reporter Kim Heung-soon] Executive personnel changes within Samsung Group, including Samsung Electronics, will be implemented this week. Industry insiders predict that the three top executives leading Samsung Electronics' core business divisions will be retained, and that a large-scale promotion and appointment of executives below the president level will take place, forming a new lineup for the 'New Samsung.'
According to business circles on the 1st, major Samsung affiliates, including Samsung Electronics, will conduct personnel changes for the president level within this week. It is widely expected that Kim Ki-nam, Vice Chairman of Samsung Electronics' Device Solutions (DS) division, Kim Hyun-suk, President of the Consumer Electronics (CE) division, and Ko Dong-jin, President of the IT & Mobile (IM) division, will likely be retained.
These three executives are in their fourth year as CEOs and were reappointed at the general shareholders' meeting last March. Samsung Electronics achieved record-breaking performance in the third quarter of this year, with sales approaching 74 trillion won. Considering Vice Chairman Lee Jae-yong's judicial risks and external uncertainties, it is anticipated that stable management will continue centered around these executives.
As for the president level, since Lee Jung-bae, President of the Memory Business Division, Choi Si-young, President of the Foundry Business Division, and Lee Jae-seung, President of the Home Appliance Business Division, were promoted last December, the scale of personnel changes this year is expected to be limited. Regarding the much-anticipated promotion of Vice Chairman Lee to chairman, it is predicted that it will not occur in this round of personnel changes, given his current status under parole.
However, a large-scale promotion and appointment of executives below the president level is expected. Vice Chairman Lee has shown his determination to lay the foundation for the New Samsung, and on the 29th of last month, Samsung Electronics announced a personnel system reform plan that includes integrating the executive ranks of existing vice presidents and senior vice presidents into a single 'Vice President' rank. This integration of executive ranks will be applied starting with this personnel change, making a large number of promotions likely.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
