Friday, October 13, 2017

In Surprise Move, Samsung CEO to Step Down After Record Profit - Bloomberg

Manage different; also see From Jail to Retirement, Samsung Loses Top Execs (Bloomberg)

"The chief executive officer of Samsung Electronics Co. is stepping down in a surprise resignation after decades at the company, saying the business needed new leadership following a bribery scandal that led to the imprisonment of its de facto chief.

Kwon Oh-hyun, who also serves as co-vice chairman, announced his retirement on Friday as the Suwon-based company reported record operating income of 14.5 trillion won ($12.8 billion) on booming demand for displays and memory chips. He said the company faces an “unprecedented crisis” despite the financial success."
In Surprise Move, Samsung CEO to Step Down After Record Profit - Bloomberg
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