Samsung Appoints New CEO

Hopes its tax swindling days are behind it.

Let’s hope he’s better at paying his taxes…

Today Samsung has named Yoon-Woo Lee as its new Vice Chairman & CEO. Vice Chairman Lee will replace Jong-Yong Yun, who has led Samsung Electronics since 1997 and who will now serve as the company’s standing adviser.

In other shake-ups Dr. Chang-Gyu Hwang, President of Samsung Electronics’ Semiconductor Business, will replace Vice Chairman Ki-Tae Lee and will lead the Corporate Technology Operations. Vice Chairman Ki-Tae Lee will lead the External Relations operations at Samsung Electronics.

Oh-Hyun Kwon, who has led the System LSI Division at Samsung Electronics’ Semiconductor Business, was named as the company’s new President of Semiconductor Business. Hyung-kyu Lim, who heads Samsung Advanced Institute of Technology, has been put in charge to set up a new team devoted to developing new businesses.

“The latest measure reflects the company’s determination to focus on developing future growth engine, and to find a new momentum to become a world leading company,” the Samsung said in a statement. It declined to mention the resignations of Group Chairman Lee Kun-hee, Vice Chairman Lee Hak-soo, the chairman’s son and heir apparent Lee Jae-yong and nine other senior executives for tax evasion last month which caused much of the merry-go-round.

With the new hierarchy in place we’d like to give them one piece of advice: no more of this please Samsung…

Yoon-Woo Lee Company Profile
Yoon-Woo Lee Homepage

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