Samsung CEO resigns

Samsung Electronics has confirmed that Vice Chairman Oh-Hyun Kwon plans to resign as the company’s head of the Device Solutions Business and will not seek re-election as a member of the Board of Directors and the Chairman of the Board when his term ends in March, 2018. Kwon will also resign as the CEO of Samsung Display.

In a letter sent to all employees, Kwon said that announcing his retirement was the most difficult thing for him to do, but now was the right time and that he believes his decision is in the best interest of the company.

Kwon joined the company in 1985 as a researcher of the company’s Semiconductor Research Institute in the United States. He also served as president and head of the System LSI Division and as president and head of the Semiconductor Business before becoming CEO of the company in 2012. He also has served as the CEO of Samsung Display since 2016.

Kwan’s departure the latest management upheaval at the firm after the heir of the entire Samsung Group was jailed for corruption in August.

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