Samsung Electronics, the world’s top memory chipmaker, announced a major leadership reshuffle on Wednesday as it faces tough competition from rivals like SK Hynix and Taiwan Semiconductor Manufacturing Co.
The South Korean tech giant appointed Jun Young-hyun, vice chairman and CEO of Samsung’s Device Solutions division (which oversees its semiconductor business), as co-CEO. He will work alongside Han Jong-hee, vice chairman and head of the Device eXperience division, which is responsible for Samsung’s smartphones and consumer electronics.
This move transitions Samsung from a single-leadership system under Han to a dual-leadership structure. Jun will now take charge of Samsung’s memory business and lead the Samsung Advanced Institute of Technology.
Samsung also promoted Han Jin-man, executive vice president of the company’s U.S. semiconductor operations, to president and head of its foundry business, which has been facing heavy losses. Han will focus on attracting key clients such as Qualcomm, AMD, and Nvidia. To support its foundry business, Samsung created a new chief technology officer (CTO) role, which Nam Seok-woo, former president and head of FAB Engineering & Operations, will fill. Nam will be responsible for narrowing the gap with foundry leader TSMC.
Additionally, Samsung promoted Kim Yong-kwan to president of management strategy within the Device Solutions division. Other key changes included the reassignment of seven officials to new roles, with two others being promoted to CEO positions.
Han Jong-hee will also lead a new committee focused on improving product quality. Ko Han-sung, CEO of Samsung Bioepis, will head the newly formed Future Business Planning division, and Lee Won-jin, formerly from Google, has been appointed president and head of Global Marketing.
Samsung’s CFO, Park Hark-kyu, will move to the Business Support Task Force, while Lee Young-hee, the company’s first female president, will join the Brand Strategy Committee.
The reshuffle comes at a time when Samsung is looking to strengthen its semiconductor business amidst increasing competition and regulatory challenges. In particular, Samsung aims to boost its position in the AI chip market, where it is currently trailing behind SK Hynix and Micron Technology.
