Who could succeed Kwon Oh-Hyun as Samsung CEO?
What's the story
South Korean electronics giant Samsung-electronics'>Samsung Electronics is in a leadership crisis following CEO & Co-Vice Chairman Kwon Oh-Hyun's shocking resignation. Samsung now needs a new leader more than ever. Analysts say outsiders are unlikely to take the top role. Also, the company is stocked with executives having decades of experience so, Samsung would find Kwon's replacement internally. Here are the top potential contenders!
Kim Ki-Nam
Kim Ki-Nam: President of Samsung's Semiconductor Division
Kim Ki-Nam was appointed the President of Samsung Electronics's semiconductor business in 2014. Kim, who joined Samsung in 1981, worked with Kwon to build the semiconductor division into a money-spinner for the firm. Reportedly, a year ago, the 59-year-old privately told some people that he expects to succeed CEO Kwon. Also, Samsung has a practice of promoting leading semiconductor engineers to top positions.
Shin Jong-Kyun
President-CEO Shin Jong-Kyun among the top contenders
Shin Jong-Kyun is a President and CEO at Samsung who has been overseeing the company's mobile and network divisions since 2012. While Kwon was top-ranked of the company's three Co-CEOs, Shin is the second of the trio. The 61-year-old devoted his whole career to making his trademark Galaxy smartphones and also propelling Samsung past Apple and Nokia in the handset business.
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Yoon Boo-Keun: The third CEO
The third of Samsung Electronics's CEO-trio, Yoon Boo-Keun, oversees the company's consumer appliances division, which deals with everything from televisions to washing machines. However, the 64-year-old represents one of the least profitable businesses of the electronics company.
Jin Gyo-Young
Jin Gyo-Young brought key memory technologies to market
Jin Gyo-Young is the Vice-President for Samsung's memory business; he was promoted to the role earlier in 2017. The semiconductor engineer from the Stanford University worked with Kim Ki-Nam and was a core member of the Kwon-led team responsible for Samsung's most profitable era. He is one of the foremost experts on Dynamic random-access memory (DRAM), which accounted for Samsung's record-earnings last year.
Jun Dong-Soo
Jun Dong-Soo, Samsung Electronics's "Digital Evangelist"
59-year-old Jun Dong-Soo is the Head of Samsung's medical devices arm and is among the higher-profile executives of the company. After joining Samsung in 1983, Jun has been involved in the company's semiconductors, medical devices, and digital media divisions, gaining experience across several businesses. He also works at the company's business strategy office to oversee the launch of its digital products.
Lee Boo-Jin
Lee Boo-Jin: Jay's closest family member with managerial experience
Jay Y Lee's sister, Lee Boo-Jin is also among the potential candidates for the top position. The 47-year-old is the head of Hotel Shilla Co.; her way of running the business is compared to her father and Samsung Chairman Lee Kun-Hee. Appointing her as the CEO of Samsung Electronics means more "family control" on the South Korean conglomerate's most profitable business.
Kwon's Resignation
CEO Kwon to remain on Samsung's board until Mar'18
CEO Kwon announced his resignation saying the company is "confronted with unprecedented crisis inside out." He said it was time for Samsung to "start anew" with a young leader "to better respond to challenges arising from the rapidly changing IT industry." His resignation followed Chairman Lee Kun-Hee's hospitalization and Co-Vice Chairman Jay Y Lee's five-year sentence in prison for bribery and other crimes.