Samsung names new executives for business divisions

In line with steps to adopt new leadership amid the absence of heir apparent Lee Jae-yong, Samsung Electronics said on Tuesday that it has named new executives to head its business divisions.

Samsung said Kim Ki-nam will head the device solutions division, which oversees the company's chip business, Yonhap news agency reported.

Kim Hyun-suk was named to head the consumer electronics division while Koh Dong-jin was tapped as the new head of the IT and mobile division, the company was quoted as saying.

Samsung said it would maintain the current three co-CEO management structure.

The announcement came as Samsung's CEO and Vice Chairman Kwon Oh-hyun, who also headed the chip business, offered to resign in October along with Yoon Boo-keun and Shin Jong-kyun, who headed the consumer electronics and mobile divisions respectively.

Kwon, Yoon and Shin will remain as members of the board until March.

Samsung said while Lee Sang-hoon would step down from the seat as the Chief Financial Officer, he was recommended to succeed Kwon as the Chairman of the board in March.

--IANS

sku/na/mr