Samsung Electronics announced the establishment of a new team to explore future business items, keeping the two-CEO system unchanged. The new team will report to Han Jong-hee, the chief of the device experience (DX) division. The company aims to seek new business areas and promote future growth. Samsung promoted Yong Seok-woo to president and appointed Vice Chairman Jun Young-hyun to lead the new future business planning team. The company also saw a generational shift with the promotion of the first executive president born in the 1970s.
The latest reshuffle comes amid Samsung’s poor earnings record and the possibility of a leadership vacuum as the company’s chairman faces a decisive ruling in a legal case. Samsung’s chairman is facing a possible prison term and a fine, and the final ruling is expected in 2024. On Monday, the chairman returned from a trip to Britain and France accompanying President Yoon Suk Yeol as a member of a presidential delegation.
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