Samsung Group Conducts Biggest Executive Reshuffle

The Samsung Group carried out its biggest executive reshuffle yesterday, with Samsung Heavy Industries President Kim Jing-wan and Samsung C&T Corp. President Lee Sang-dae promoted to vice chairmen.

Choi Joo-hyeon, vice president of Samsung Corning Precision Glass, was promoted to president of Samsung Everland.

In the conglomerate’s biggest shakeup of top management, two executives were promoted to vice chairmen, 12 were promoted to presidents, and 11 executives were transferred.

In the wake of the reshuffle, younger executives will fill executive posts as 12 former vice presidents in their 50s were promoted to president. Many among 20 CEOs aged 61 or over decided to retire before the shakeup.

Samsung Electronics promoted three vice presidents. Jang Won-gi will head the LCD division of the device solution unit; Yun Bu-geun will take over the image display business of the digital media and communications unit; and Yun Ju-hwa will supervise the audit and inspection team.

Choi Woi-hong was promoted to president of Samsung Venture Investment Corp. Samsung Corning Precision Glass Vice President Lee Heon-sik was also promoted to president of the company.

The Samsung Group reclassified Samsung Electronics’ four business units of semiconductors, LCD, digital media and information and communications into two business units of parts and products. By doing so, the business units are effectively given the right to manage their business lines independently.

Samsung Electronics Vice Chairman Lee Yoon-woo will head the device solution unit and Choi Ji-sung, president of the information and communications unit, was named president of the digital media and communications unit.

Resigning were Samsung Electronics Vice Chairman Lee Ki-tae, chief of external relations who enabled the electronics maker to hit the global market with its mobile phone brand “Anycall,” and Samsung Electronics President Hwang Chang-gyu, who led the technology unit.

The group plans to announce another reshuffle for posts below vice president level Monday.

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