The chief executive officer (CEO) of Samsung Electronics is stepping down in a surprise resignation after decades at the company, saying the business needed new leadership following a bribery scandal that led to the imprisonment of its de facto chief. Kwon Oh-hyun, who also serves as co-vice-chairman, announced his retirement on Friday as the Suwon-based company reported record operating income of 14.5 trillion won ($12.8 billion) on booming demand for displays and memory chips. He said the company faces an “unprecedented crisis” despite the financial success. Kwon, ...
Samsung CEO Kwon Oh-hyun steps down
Surprise exit comes as the firm reports record $12.8-billion operating income
Sam Kim | Bloomberg Last Updated at October 14, 2017 01:02 IST