Samsung replaces all 3 CEOs, merges units in management restructuring

From CNET: Samsung on Monday announced a restructuring of the company that includes the replacement of the chiefs of its three major business units and the merging of its mobile and consumer units. The reshuffling represents the electronics giant's most dramatic corporate makeover in four years.

Han Jong-hee, formerly the president of Samsung's visual display business, was promoted to CEO and will oversee the newly created SET division, created by the merger of the consumer electronics and IT and mobile communications divisions.

Kyung Kye-hyun, an expert in semiconductor design and the CEO of Samsung Electro-Mechanics, was promoted to lead the Device Solutions unit, which includes the company's semiconductor business.

Samsung sells more phones and TVs than any other company, but it also has a huge business selling memory chips to device makers around the globe. In recent months, Samsung's chip business has gotten a boost from increased demand for equipment as people work from home during the coronavirus pandemic and data centers store everything we're doing online.

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