Samsung to Replace CEOs, Reorganize Consumer Business

(Bloomberg) — Samsung Electronics Co. Ltd. is combining two of its three business divisions and appointing new leaders to replace its three co-chief executive officers in its biggest management shake-up since 2017.

The reorganization, decided under the oversight of de-facto leader and Samsung heir Jay Y. Lee, will see the consumer and mobile divisions merged into a newly formed SET Division, to be led by Jong-Hee Han. Promoted from the company’s TV research and development team, Han succeeds co-CEOs Dongjin Koh and Hyunsuk Kim, who had respectively led the smartphone and consumer appliances groups. Kyehyun Kyung is stepping in to lead the company’s Device Solutions group, which encompasses its key semiconductor business lines such as memory, logic processors and chipmaking for outside customers.