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Samsung Electronics names first female president

 


Samsung Electronics said on Monday that it would retain its two current CEO positions going forward.

CEOs JH Han and Kyung Kye-hyun will continue to lead the Device Experience and Device Solutions divisions respectively, the company said in announcing year-end personnel changes.

Samsung said it was retaining the post given the current “harsh business realities.”

Tech giants are seeing lower earnings as demand for memory chips and consumer electronics hit record highs during the pandemic.

Samsung experienced its first annual profit decline in three years in the third quarter, and analysts expect the company to deliver similar results in the fourth quarter.

And fundamentally, traditionally strong businesses like mobile and TV are generally seeing slower growth. At the same time, the logic business, Samsung Foundry and Samsung System LSI, which the company sees as its next growth engines, have shown mixed performance over the past few years.

Meanwhile, Samsung also announced its first female president. The president is the highest position within an electronics manufacturer, second only to chief executive officer and vice chairman.

President Younghee Lee has been appointed Global Market Officer for the Device Experience Division (DX Division). Known as a marketing expert, she previously worked at L’Oreal before joining Samsung in 2007.

She was instrumental in promoting Samsung’s Galaxy smartphone brand in the early 2010s when the company’s mobile business was booming in the smartphone sector under the leadership of then-CEO JK Shin.

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