Samsung Electronics to Form 2 Business Units
[2009-01-19]
South Korean electronics giant Samsung Electronics announced Friday an operational and management shakeup that will see the world''s largest maker of memory chips and liquid crystal display panels restructure into two operating divisions, according to a published report. The new units will focus on consumer products and electronic components such as memory chips and displays, Dow Jones Newswires reported, citing a company statement.
The changes will also affect 25 senior executives across the company and its affiliated businesses. Chief Executive Lee Yoon-woo will retain his title and oversee the components division. Choi Gee-sung, president of the company''s cell phone operations for the past two years, will head the consumer products division. The changes reportedly addresses a key operational challenge faced by Samsung (SSNGY:samsung electrs ltd gdr 144a News , chart , profile , more Last: 96.97-10.99-10.18%
SSNGY 96.97, -10.99, -10.2%) , which runs a consumer products division but also supplies components to companies that are competitors to that business. Reports said the change was also a response to the departure of Group Chairman Lee Kun-shee, who stepped down in April last year in the wake of a government enquiry and his indictment on tax-evasion charges. The revamp is also seen as a response to slumping consumer demand related to the global downturn.
The changes will also affect 25 senior executives across the company and its affiliated businesses. Chief Executive Lee Yoon-woo will retain his title and oversee the components division. Choi Gee-sung, president of the company''s cell phone operations for the past two years, will head the consumer products division. The changes reportedly addresses a key operational challenge faced by Samsung (SSNGY:samsung electrs ltd gdr 144a News , chart , profile , more Last: 96.97-10.99-10.18%
SSNGY 96.97, -10.99, -10.2%) , which runs a consumer products division but also supplies components to companies that are competitors to that business. Reports said the change was also a response to the departure of Group Chairman Lee Kun-shee, who stepped down in April last year in the wake of a government enquiry and his indictment on tax-evasion charges. The revamp is also seen as a response to slumping consumer demand related to the global downturn.
Source: www.gdeha.com
Keywords:Electronic
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