Earlier today, Samsung Electronics announced the appointment of regular presidents and the establishment of the new Future Business Planning Unit. It revealed that it is keeping its dual-CEO structure amid uncertain business conditions, which means Samsung MX head TM Roh isn't being promoted to the CEO level.
Samsung Electronics to maintain two co-CEO structure for 2024
Samsung Electronics has been using the multiple CEO strategy for the company's corporate structure, and 2024 will be no different. Samsung DX head JH Han and Samsung DS head Kyung Kye-hyun will become the South Korean electronics giant's two CEOs. However, JH Han will be removed as the head of Samsung's Video Display business unit (TV arm). Kyung Kye-hyun will also become the head of SAIT (Samsung Advanced Institute of Technology), which acts as Samsung's research and development unit.
TM Roh, who is currently leading Samsung MX (Samsung Electronics' mobile devices division), was expected to be promoted as the third co-CEO of Samsung Electronics. But that hasn't happened despite Samsung MX doing pretty well despite the global economic downturn and helping the company stay in profit during tough times. The reason for not promoting him to the co-CEO level hasn't been revealed yet.
Jeon Young-hyun is the head of the Future Business Planning Unit. He has played a key role in growing the company's memory, semiconductor, and battery businesses to the highest level on a global scale. He has continued to demonstrate leadership as chairman of the Board of Directors after serving as CEO of Samsung SDI.
Yong Seok-woo is the new President of the Visual Display Business Department (TV arm) of Samsung DX. He is a TV development expert and has served as the head of the development team since December 2021. He has been the deputy head of the TV business division since December 2022 and is a great successor to JH Han, who has now been made the co-CEO of Samsung Electronics.
Kim Won-kyung has been chosen as the president of Samsung Electronics' Global Public Affairs Department. He hails from South Korea's Ministry of Foreign Affairs and Trade and joined Samsung Electronics in 2012. Since then, he has served as the head of the Marketing Strategy Team in the Global Marketing Office, the head of the External Cooperation Team in North America, and the head of the Global Public Affairs team since November 2017. With his rich communication skills, Kim Won-kyung is expected to bring new collaborations through his new president role.
Samsung's new Future Business Planning Unit to find new business opportunities
Samsung's new Future Business Planning Unit is something new, and this group will find new business prospects that will change the landscape of the industry. It consists of personnel who are at the Vice President level. This unit is not an extension of any existing business unit from the company, so it will have the independence that is required to find new business areas.
