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Samsung reorganises divisions, shuffles management January 19, 2009

Posted by aikservices in Mobile, Samsung, Telecom, Wireless.
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Samsung has begun a reshuffle at its top echelon that will affect 25 out of the 46 CEO-level officers, with 12 promotions expected, the Korea Times reported. Samsung will also cut the payroll of its 1,600 executives in 59 affiliates by 10-20 percent. The electronics giant will announce its full business plan near 23 January when it comes out with its earnings report. The Wall Street Journal said the company has decided to restructure itself into two operating divisions, one focused on consumer products like television sets and mobile phones and the other on components such as memory chips and displays. Chief executive officer Lee Yoon-woo will oversee the components division. Lee was the former director of Samsung’s chip business and became CEO last May. The consumer-products unit will be led by Choi Gee-sung, who has been president of the company’s phone operation for the last two years and led the TV and video business before that. The shuffle comes as the general economic slowdown erodes demand for electronic products. The new structure will unite Samsung’s chip and LCD divisions. For the past two years, Samsung operated four main division: chips, liquid crystal displays, consumer electronics and mobile phones. The global economic downturn has hit the company hard and analysts Samsung to post its worst quarterly result since 1997.

Wireless Industry News


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