Samsung Electronics chief executive Kwon Oh-hyun will no longer be an active player in his company’s evolution. His resignation came as an unexpected decision. The tech behemoth reached top positions within its industry. Despite these achievements, the Samsung empire is hurt by constant internal conflicts especially at the management level.
Analysts Interpreted Kwon’s Resignation as Great Hit for the Samsung Empire
Kwon Oh-hyun was expected to climb the career ladder once the heir of Samsung legacy, Jay Y. Lee, went to jail in February for bribery. However, the opposite happened. Despite having good odds by his side, Kwon decided to end his managerial attributions.
Kwon has been working for Samsung ever since he entered the Semiconductor Business in 1985. His input helped the company tremendously in advancing in this industry.
The departure of the current CEO and Vice Chairman coincided with the day Samsung forecasted record profits for the third quarter. Kwon’s efforts were some of the reasons the South Korean smartphone manufacturer conquered new territories in its field.
Therefore, analysts described this news as nonsense. The Samsung empire proved to have excellent leaders since it gained record earnings. On top of that, further forecasts indicate an even more fruitful fourth fiscal quarter.
The Organization Will Have to Find a New Leader Fast
Kwon age 64 is considered Number 2 within Samsung Group. Not only is he board director and chairman of the board, but he also managed the components business that consists of memory chips as well and the display business. All these departments contributed significantly to company’s recent success.
On the other hand, Kwon claimed that all these impressive results are fruits of some old decisions. Therefore, he revealed troubling times for his company. According to him, the company is finding it difficult to identify future trends.
The company stated that Kwon would continue to serve as board director and chairman of the board until March 2018. He will also follow a temporary transition until he can disrupt his other two roles. During this timeframe, Samsung has the delicate task of finding a suitable leader.
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