Samsung merges businesses, names new CEOs

In a major reshuffle today, Samsung announced the merger of its two consumer-facing businesses into one. Consumer Electronics (CE) and IT & Mobile Communications (IM) will now be under a new business division called Set Division (SET). The division includes products like smartphones, laptops, tablets, TVs and home appliances and the amalgamation will help Samsung compete in the market efficiently and create synergies between its products.

The newly merged SET division has also got a new CEO. Jong-Hee (JH) Han has been promoted as SET’s Vice Chairman and CEO, in addition to leading the Visual Display business. Han is also credited to have played a pivotal role in Samsung reaching the number one position in TV sales for the last 15 years. Last month, Samsung confirmed that Han will deliver a keynote address at CES 2022 and will be interesting to see what Han reveals since it will be his first public appearance after the promotion.

Samsung has also promoted President Kyehyun Kyung as the CEO of the DS division that handles semiconductors. Kyung has served as the CEO of Samsung Electro-Mechanics and is an expert in semiconductor design.

Samsung announced other changes as well. Yongin Park is now the President and Head of System LSI Business; Hark Kyu Park is promoted as the President and Chief Financial Officer; Kinam Kim is named Chairman of Samsung Advanced Institute of Technology (SAIT); KS Choi is promoted as President and Head of North America Office for SET Division, and Inyup Kang takes over as the President and Head of North America Office for DS Division.