Samsung Electronics reshuffle sees joint CEOs

March 15, 2013

Samsung Electronics announced Thursday that the heads of its consumer electronics and mobile divisions had been promoted to become joint CEOs of the South Korean giant.

The reshuffle, announced at an annual general shareholders' meeting, leaves the company with three joint CEOs.

Boo-Keun Yoon, head of the huge television unit, and mobile division chief J.K. Shin will become co-CEOs with Kwon Oh-Hyun, who will also retain his position as Chairman of the Board of Directors.

The promotions were announced as the world's biggest by revenue unveiled its latest flagship Galaxy S4 in New York City.

A company statement noted that under Yoon Samsung's TV business retained its global leadership position, while Shin oversaw the mobile division's surge to the top of the world rankings in the smartphone and overall mobile phone sectors.

Yoon will continue his stewardship of the consumer electronics division, which includes TVs and appliances, while Shin will remain in charge of the IT and mobile communications business, it said.

"The new will serve to clarify and enhance independent management of the two set divisions," the statement added.

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