Samsung Electronics CEO and Vice Chairman Kwon Oh-hyun announced recently that he was stepping down amid an “unprecedented crisis.” He has been with the company for more than 30 years. He was essentially serving as the de facto head after Samsung heir Lee Jae-yong was imprisoned earlier this year.
According to a new report, Samsung might select the successor to the CEO as early as this week. An early selection would mean that the transition would be easier when Kwon vacates his post early next year.
Samsung CEO's Replacement
Samsung Electronics will have to pick a successor to Samsung CEO Kwon Oh-hyun as he has already made his plans to retire public. Samsung will now be looking to appoint a new head of the device and display business divisions that are currently under Kwon.
Candidates that are reportedly being considered for this position include the head of Samsung's medical equipment business Jun Dong-soo, Samsung Display senior adviser Park Dong-gun and the head of Samsung Advanced Institute of Technology Chung Chil-hee.
Rumors also suggest that Samsung could shake up the management positions in the company by swiftly promoting vice president level executives. It will be an effort on the company's part to stabilize the organization so that it can adjust to the new leadership.
Samsung is already dealing with a leadership vacuum as it is with its heir behind bars. Some reports also suggest that Samsung is thinking about reviving the control tower structure for better organizational management.
