Samsung replaced the heads of its three biggest business units with two new co-CEOs, the company announced late Monday, merging its consumer and mobile electronics businesses.
Kyehyun Kyung, formerly CEO of Samsung Electro-Mechanics, will lead the company’s components business. Jong-Hee Han, previously head of Samsung's flash memory product and technology team, will run the combined mobile and consumer electronics unit. Han and Kyung will replace former components head Kim Ki-nam, consumer electronics head Kim Hyun-suk and mobile head Koh Dong-jin, who had been in their roles since 2017.
Combining its mobile and consumer units is a sign of Samsung's shifting priorities as it sees gains in other sectors. While personal electronic devices once drove its profit, semiconductors have become its powerhouse business.