Samsung Electronics Kyung Kye-hyun resigns as CEO... Han Jong-hee leads single leadership system

Additional CEO Appointment Planned at Next Year's General Meeting and Board Meeting

Samsung Electronics President Kyung Kye-hyun steps down as head of the DS Division and resigns as CEO. Samsung Electronics will be operated under a single CEO system with Vice Chairman Han Jong-hee, head of the DX Division.

On the 21st, Samsung Electronics announced this fact through a disclosure regarding the change of CEO. It also included that President Kyung submitted his resignation letter on the same day.

President Kyung Kye-hyun of Samsung Electronics (center)
[Image source=Yonhap News]

Earlier that day, through a 'one-point' personnel change, the company appointed Vice Chairman Jeon Young-hyun, who was in charge of Samsung Electronics' Future Business Planning Office, as the new head of the DS Division. Additionally, President Kyung, who was the previous head of the DS Division, was appointed as the new head of the Future Business Planning Office. The two swapped their positions.

It is known that President Kyung voluntarily expressed his intention to step down from the division head position to find a breakthrough amid growing uncertainties in the semiconductor business both domestically and internationally. By also stepping down from the CEO position this time, he is expected to focus on leading the Future Business Planning Office, which oversees Samsung's future growth engines, and the SAIT (formerly the Advanced Institute of Technology) that he previously managed.

Samsung Electronics plans to proceed with the appointment procedures for Vice Chairman Jeon as an inside director and CEO through the regular shareholders' meeting and board of directors to be held next year.