Samsung Splits Businesses and Shuffles Execs
Today Samsung announced that it has made a number of changes to the organizational structure of the company. First, Samsung has broken its two main units into seven different businesses that report to the main corporate entity. As part of the changes, Choi Geesung, who previously ran the Digital Media and Communications group, was installed as the new CEO of Samsung. Samsung has created a new COO position as part of the executive suite, and promoted Jay Y. Lee, son of former Samsung Group chairman Lee Kun-hee, to that position. The heads of the seven different business groups will report directly to this reorganized executive suite.
Samsung Heir Arrested On Bribery Charges
Jay Y. Lee, a top executive at Samsung, has been arrested after a judge agreed that the special prosecutor's allegations of corruption warranted legal action.
Korea Prosecutors Take Second Stab at Samsung Exec
South Korea's special prosecutor's office is taking another run at arresting and charging Samsung executive Jay Y. Lee.
Samsung Looks to Redefine Corporate Culture
Samsung hopes changing its rigid corporate culture will help it perform better as a business. The company believes emulating the behavior of startups can make it a more nimble firm, able to respond swiftly to opportunities.
Samsung Names New Executives
Samsung today made sweeping changes to its leadership. The news comes several weeks after Kwon Oh-hyun, CEO and Vice President of Samsung Electronics Corp., announced plans to step down from his leadership role with the company.