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Samsung Electronics just lost its CEO at the height of its success

The Next Web Friday, 13 October 2017 ()
Samsung Electronics just lost its CEO at the height of its successSamsung Electronics, the flagship business of the South Korean mega-conglomerate and the second largest tech company on the planet, has just lost its CEO and vice chairman Kwon Oh-hyun today, as he announced his decision to step down. In a letter to employees, Kwon noted that as the firm is “confronted with unprecedented crisis inside out, I believe that time has now come for the company start anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry.” He’s almost certainly referring to the arrest of Lee Jae-yong, the de facto…

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Source: Bloomberg Global Business - < > Embed

News video: Samsung Electronics CEO to Step Down

Samsung Electronics CEO to Step Down 01:00

Oct.12 -- Samsung Electronics' Vice Chairman and Chief Executive Officer Kwon Oh-hyun is stepping down after more than three decades at the company, saying he's making way for new leadership. Bloomberg's Haidi Lun reports on "Bloomberg Markets: Asia."

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