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Just a few weeks after there were reports that Samsung Electronics is considering a major leadership shake-up in the wake of weak smartphone sales, the reshuffle turned out be smaller than expected, with all three co-CEOs retaining their current positions.
It was earlier rumored that the company’s co-chief executive and mobile head J.K. Shin could be moved out of his role and replaced by B.K. Yoon, another co-CEO who currently oversees the company’s home-appliance and television business.
One of the main reasons behind the small reshuffle is said to be the absence of Chairman Lee Kun-hee, who was hospitalized in May after a heart attack, as he typically plays an important role in key management decisions.
However, D.J. Lee, who is the president and head of sales and marketing at the company’s mobile unit, has taken the responsibility of the company’s dismal performance in the smartphone market, and is leaving his current position. In addition, a couple more president-level executives at the mobile unit have also been reportedly released from their positions.
Samsung recently posted its Q3 results, revealing that its quarterly net profit dropped by nearly 50 percent, as its mobile business continued to lose ground to low-cost Chinese smartphone makers like Xiaomi and Huawei.
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