Samsung unveils new co-CEOs

Samsung has dealt with a wave of scandals in the past year, including the embarrassing Note 7 recall and corruption allegations involving its de facto CEO. According to CNET, Samsung has made a move to recover by promoting three presidents – Kim Ki-nam, Kim Hyun-suk and Koh Dong-jin – to the roles of co-CEOs. These three figureheads will lead the company’s device solutions, consumer electronics and IT, and mobile division respectively.

“The next generation of leaders are well suited to accelerate the pace of innovation and address the demands of the connected world,” Kwon Oh-hyun, Samsung’s retiring vice chairman, said in a statement. “They have proven track records with extensive experience and outstanding expertise in their fields.”

New co-CEO Koh Dong-jin already has made a name for himself in the Samsung sphere. He has been running day-to-day operations for the mobile division for two years, and oversaw the release of both the successful Galaxy S7 and the disastrous Note 7.

As CNET reports, the other two new CEOs are equally as qualified. “Kim Hyun-suk, the new head of the consumer electronics business, has overseen Samsung’s display business since December 2011,” explains an article on the announcement. “He started at the company in 1992 and has led the development of Samsung’s flagship TV lineups for the past decade, including its LED TV, Smart TV, UHD TV, Curved TV and QLED TV series.”

As for Kim Ki-nam, head of device solutions, the new co-CEO has been a part of Samsung since 1981, and “has played a key role in developing new memory technologies for DRAM and NAND flash products,” according to CNET.

Despite its recent public perception and representation in the media, Samsung isn’t hurting. Hours before making the announcement of their management change on October 30, the company announced its biggest operating profit ever, due to a strong demand for its memory chips – among other device components. However, it still faces tough competition from Apple and Huawei in the mobile device market.