Samsung Electronics has announced a management restructuring of its units, including some changes in its executive department.
The company will have two new leaders in charge of two divisions: Device Solutions, which is in the semiconductors sector, and a new SET Division that includes mobile, TVs, and consumer electronics.
Samsung has made a significant shift in structure since 2017 when the firm installed three CEOs for three separate units.
The firm’s former head was JH (Jong-hee) Han, who oversaw the Visual Display business and is now a co-CEO with oversight for the SET division.
Samsung credits him with having led the firm to 15 years of global TV sales dominance and predicts he will “help strengthen the synergies among the various businesses in the SET Division and help drive new businesses and technologies.”
The newest CEOs are Kyehyun Kyung, who formerly ran Samsung Electro-Mechanics.
He has previously worked on the flash memory product team and the DRAM design team, and will now be in charge of leading Samsung’s most important, highly profitable semiconductors division.
Samsung also announced a new CFO Hark Kyu Park, as well as a new North American SET and DS leader.
In a move that is intended to improve efficiency, the management overhaul streamlines the vast technology firm’s organizational structure into two units for consumer goods and components.