Lee Jae-yong Closer to Top Management of Samsung Electronics

President Choi Ji-sung serves as the sole CEO of the Korean electronics leader; Vice Chairman Lee Yoon-woo becomes the chairman of the board of directors

The Samsung Business Group has made a massive reshuffle that will set into motion putting former group chairman Lee Kun-hee’s sole son Lee Jae-yong at the helm of Samsung Electronics. The junior Lee was promoted from senior vice president to executive vice president to serve as the chief operating officer (COO) of Samsung Electronics, bringing him closer to actual control of the Korean electronics leader.
In the reshuffle made on Dec. 15, elder CEOs, including former Vice Chairman Lee Yoon-woo, took a back seat to give way to younger-generation executives.
COO Lee Jae-yong will be charged with ordinary management and coordinating businesses among subsidiaries on top of a job of responding to customers’ needs by making the most of his experiences and the network he has built as chief customer officer (CCO) between 2007 and 2008, a Samsung Electronics spokesman said.
The junior Lee has risen to become virtual successor of Samsung Electronics, departing from the standing of the heir-apparent who had undergone lessons in management, industry officials said.
Samsung Electronics shifted from a two-leader system of Vice Chairman Lee Yoon-woo and President Choi Ji-sung into a one-leader system of CEO Choi. Vice Chairman Lee will serve as the chairman of the board of directors as former vice chairman Yoon Jong-yong did in the past.
CEO Choi is credited with having demonstrated strong leadership in the monitor, TV and mobile phone businesses. He is considered to have played leading roles in raising Samsung Electronics to the rank of the global No.1 monitor maker, the global LCD TV leader and the world’s second biggest mobile phone maker.
Choi is expected to double as CEO of Samsung Electronics and supporter of COO Lee.
Among the “old guard” CEOs retiring their titles are former Samsung C&T vice chairman and CEO Lee Sang-dae, who was transferred to vice chairman of Samsung Engineering, and former Samsung Heavy Industries Vice Chairman and CEO Kim Jing-wan.
Instead, Samsung Card President-CEO Choi Do-suk was promoted to vice chairman while Samsung SDI CEO Kim Sun-taek was elevated to vice chairman of the new business promotion division of Samsung Electronics.
The group also promoted 10 younger-generation executives as presidents, including Samsung Digital Imaging President Park Sang-jin, 56. The other nine new presidents, aged 55 or younger are Kim Ki-nam, 51, who heads Samsung Advanced Institute of Technology; Kim Sang-gyun, 51, president in charge of legal affairs; Cho Soo-in, 52, president in charge of memory in the semiconductor division; Shin Jong-gyun, 53, in charge of Samsung Electronics mobile business division; Kim Sang-hang, 54, president in charge of the asset management division of Samsung Life; Lee Sang-hoon, 54, president in charge of business support at Samsung Electronics; Chung Ki-young, 55, president of Samsung Economic Research Institute; Park Ki-suk, 55, president of Samsung Engineering; and Kim Suk, 55, president of Samsung Investments. nw

Samsung Electronics President and CEO Choi Ji-sung speaks at his inauguration ceremony at the Samsung Electronics Digital City in Suwon on Dec. 17.

(photo from top , from left to right) Kim Sun-taek, vice chairman of the new business promotion division of Samsung Electronics,; Samsung Card Vice Chairman Choi Do-suk,; Kim Ki-nam, head of Samsung Advanced Institute of Technology,; Kim Sang-gyun, president in charge of legal affairs,; Kim Sang-hang, president in charge of the asset management division of Samsung Life,; Kim Suk, president of Samsung Investments,; Park Ki-suk, president of Samsung Engineering,; Samsung Digital Imaging President Park Sang-jin,; Shin Jong-gyun, in charge of Samsung Electronics Mobile business Division,; Lee Sang-hoon, president in charge of business support at Samsung Electronics; Chung Ki-young, president of Samsung Economic Research Institute,; Cho Soo-in, president in charge of memory in Samsung Electronics Semiconductor Division,; and Samsung Electronics COO Lee Jae-yong.