Two co-CEOs, instead of three, will lead the firm as it pivots on its mobile and consumer electronics divisions
Samsung Electronics will merge its mobile and consumer electronics divisions, the firm said on Tuesday, naming new co-CEOs in the biggest reshuffle since 2017 to simplify its structure and focus on the logic chip business.
Instead, its component business, led by chips, has become the most profitable, helped by a boom in data storage and a recent shortage of global semiconductor supplies. “In the long term, the biggest challenge is forming a platform of Samsung's own,” said Lee Jae-yun, an analyst at Yuanta Securities Korea.
Other high-profile promotions included naming as vice-chair Chung Hyun-ho, the head of a “task force” that analysts said co-ordinates decision-making in Samsung Electronics and affiliates, and which media have said works closely with Lee.
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