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Samsung CEO to step down

Staff Reporter, New Delhi
13/10/2017   0 Comments

Samsung Electronics Co Ltd, CEO and Vice Chairman, Kwon Oh-hyun plans to step down deepening concerns over a leadership vacuum at the tech giant after group scion Jay Y. Lee was jailed for bribery.

Kwon, 64, is seen as Samsung Group No. 2. As well as being chairman of the board and a board director, he heads the components business - including memory chips - and the display business.

The departure of 32-year Samsung veteran Kwon after five years in the top job comes at a time of leadership uncertainty at the company. Shares in Samsung, worth about $350 billion, fell 0.6 percent on Friday after hitting an all-time high earlier in the day, Bureaucracy Today reports.



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