Samsung's future planning chief to head semiconductor division

Samsung Electronics effected a sudden leadership change in the device solutions (DS) division, responsible for its semiconductor business, saying the move was made to revitalize the atmosphere amid sluggish performance in its chip business, the company said Tuesday.

Jun Young-hyun, vice chairman and head of device solutions division at Samsung Electronics / Courtesy of Samsung Electronics

The chip giant said that Jun Young-hyun, vice chairman and head of the future business division, has been appointed as the new leader of the DS division, stating that the leadership change was intended to strengthen the competitiveness of the semiconductor business in an uncertain internal and external business environment.

President Kyung Kye-hyun, who has led the DS division, will become the head of the future business division as well as the head of Samsung Advanced Institute of Technology. Samsung said Kyung is expected to focus on finding new growth opportunities based on his expertise leading the chip business.

Under the new leadership, Samsung is determined to enhance its technological edge and future competitiveness in chip business by pursuing innovation in its business.

"Vice Chairman Jun is expected to overcome the semiconductor crisis based on his extensive management know-how he has gained by growing Samsung's memory chip and battery businesses to the top level," Samsung said.

The new semiconductor chief led Samsung's memory business as president from 2014 to 2016, spearheading the company's memory chip business.

He then served as CEO of Samsung's battery subsidiary, Samsung SDI, for five years before being appointed vice chairman of Samsung Electronics' future business division last year.

Samsung plans to proceed with the appointment of Jun as a board director and CEO through the regular shareholders' meeting and board meeting next year.

Samsung expects Kyung, with his experience as CEO of Samsung Electro-Mechanics and CEO of the DS division, to contribute to discovering future growth opportunities for Samsung Electronics and its affiliates using his network and experience.