Samsung Electronics said Monday that it will keep the two current CEOs in place in the future.
CEOs JH Han and Kyung Kye-hyun will each continue to head the Device Experience and Device Solutions division, the company said in its year-end reorganization announcement.
Samsung said it was maintaining its posts considering current “harsh business realities”.
Tech giants are seeing its income fell from falling demand for memory chips and consumer electronics, which have remained at all-time highs during the pandemic.
Samsung experienced its first annual profit decline in three years in the third quarter and analysts expect the company to post similar results in the fourth quarter.
In addition, its traditionally strong businesses such as mobile and TV are generally seeing a slowdown in growth. At the same time, its logical businesses, Samsung Foundry and Samsung System LSI, which the company sees as its next growth engine, have shown mixed results over the past few years.
Meanwhile, Samsung also announced its first female president. The chairman is the highest executive position in an electronics manufacturer after the CEO and vice president.
President Younghee Lee was appointed global market director of the Device Experience division, or DX division. Known as a marketing expert and formerly at L’Oreal, she joined Samsung in 2007.
She was instrumental in promoting Samsung’s Galaxy smartphone brand as the company’s mobile business was growing rapidly in the smartphone sector starting in the early 2010s under her leadership. The direction of the CEO at that time was JK Shin.
