In short: Samsung this week announced the names of two new CEOs as part of its business restructuring. The South Korean company has split into two divisions, each headed by a CEO: Consumer Electronics and Components.
The newly created SET division will handle Samsung products such as smartphones, TVs and other devices. Its new leader was Chon-Hee Han, who was appointed Vice Chairman and CEO. Until now, Khan ran Samsung’s display business, which will be included in SET after the reshuffle.
The Device Solutions (DS) division will cover Samsung’s semiconductor component sector, with Kyehyun Kyung as its new CEO. Kyung was previously CEO of Samsung Electro-Mechanics, Flash Product and Technology Team Leader, and part of the DRAM Development Team.
The shake-up marks Samsung’s largest reorganization since 2017, when it split into the Display, Consumer Electronics and Mobile Devices divisions. This comes amid the arrest and imprisonment of Samsung heir Lee Jae Young on bribery and corruption charges.
This week’s announcement Notes (edit) change of management in other areas of the company. The North American office will be split into SET and DS units, headed by Presidents C.S. Choi and Inyup Kang respectively.
Elec reported this week that Samsung believes the global semiconductor shortage will be Proceed until the first half of 2022 according to insiders. At its November meeting, the company noted that shipments of certain types of microcircuits will be limited until the second half of next year. Foundry production capacity and service prices can also be an issue.