Samsung Now Has 3 CEOs

Posted Mar 15, 2013

Samsung Electronics has promoted Boo-keun Yoon and J.K. Shin as co-CEOs after the annual shareholders meeting.  This means that Samsung now has 3 CEOs.  Oh-Hyun Kwon will remain as CEO and chairman of Samsung’s board of directors.

Yoon will oversee Samsung’s consumer electronics including the TVs and appliances.  Shin will track Samsung’s IT and mobile communications division.  When interview by The Wall Street Journal, Shin revealed that he is not satisfied with Samsung’s smartphone market share in the United States and said that they are seeing “lackluster demand” for Windows-based phones in Europe.

Samsung said that by promoting Shin and Yoon, it will “enhance independent management of the two set divisions” and the “independent management of the set and component businesses.”

Samsung reported five consecutive quarters of record profits and $52.6 billion in sales this past January.  Samsung is working on distinguishing their features from Apple to avoid future lawsuits including motion-controlled menus and tilt-to-scroll.

The company announced the Galaxy S4 yesterday at Radio City Music Hall in New York.