On Tuesday, Samsung Electronics announced the merger of its mobile and consumer electronics units. The company also announced new leadership to replace its three major division leaders and this change takes effect starting today, the 7th of December, 2021. The change is reportedly the biggest in the company’s history.
The company named Jong-Hee (JH) Han as the new Vice Chairman and co-CEO for the newly-combined mobile and consumer electronics unit which the company is calling SET division. Jong-Hee Han who held the position of Head of Visual Display Business will continue to hold the position alongside his new roles. He has worked his way to become a reputable part of the Samsung franchise; he played an important role in the company’s getting to the top spot in global TV sales in the last fifteen years. According to Samsung, in his new positions, the executive is expected to “strengthen the synergies among the different businesses in the SET division and help drive new business and technologies”.
Samsung also named Kyehyun Kyung, the CEO of its Elecro-Mechanics unit, as co-CEO of the newly formed SET division. He will also lead the company’s device solutions (DS) division spanning semiconductor and components units.
Speaking about the new leadership, Samsung noted that what it has done will lead the company into “the next phase of the company’s future growth and to strengthen its business competitiveness”. It is relevant to know that one major reason behind the combination of the two units is to simplify the complex structure and to place more focus on its semiconductor business which the pandemic has made a strong case of concern for many tech companies.
Samsung also named Kinam Kim, its former Vice Chairman and Head of the DS division as the new Chairman of its Samsung Advanced Institute of Technology. Hark Kyu Park was also announced as the new Chief Financial Officer.
Samsung’s recent announcement comes shortly after it announced plans for a $17 billion semiconductor plant in Texas and its $205 billion investment plan which encompasses artificial intelligence, robotics, biopharma and semiconductors, for a period of three years.