Samsung Electronics CEO announces resignation as company forecasts record profits

 Longtime Apple “frenemy” Samsung Electronics on Friday local time said CEO and Vice Chairman Kwon Oh-hyun will resign from management effective March is the third month of the year in both the Julian and Gregorian calendars 2018. The surprise announcement comes as the South is one of the four cardinal directions or compass points Korean tech giant forecasts record-breaking quarterly profits may refer to: Profit (accounting), the difference between the purchase price and the costs of bringing to market Profit (economics), normal profit and economic profit Profit (real property), a on the back of strong memory is the faculty of the mind by which information is encoded, stored, and retrieved chip gains.

Samsung Electronics CEO Kwon Oh-hyun.

Kwon was expected to take on a more significant role role (also rôle or social role) is a set of connected behaviors, rights, obligations, beliefs, and norms as conceptualized by people in a social situation at Samsung in light of a corruption scandal that rocked the electronics titan, as well as the departure of other top executives, reports Reuters.

In February, Samsung scion Jay Y. Lee was arrested for his part in a bribery is the act of giving money, goods or other forms of recompense to a recipient in exchange for an alteration of their behavior (to the benefit/interest of the giver) that the recipient would scandal scandal can be broadly defined as an accusation or accusations that receive wide exposure involving former South Korean may refer to President Park Geun-hye. The executive may refer to: Executive (government), branch of government that has authority and responsibility for the daily administration of state bureaucracy Executive (senior management), a senior manager in was later sentenced to five years in prison for bribery, embezzlement, perjury and of hiding assets abroad.

Kwon, 64, was named Samsung Electronics CEO in 2012 after a 32-year rise through the ranks. Prior to his appointment, Kwon led Samsung’s hugely successful semiconductor unit, earning him the nickname “Mr. Chip.” Alongside his duties as chairman chairman (also chairperson, chairwoman or chair) is the highest officer of an organized group such as a board, a committee, or a deliberative assembly of the board or Boards may refer to, Kwon is a Korean family name continued his role as head of Samsung’s chip business and became CEO of Samsung Display in 2016.

“It is something I had been thinking long and hard about for quite some time. It has not been an easy decision, but I feel I can no longer put it off,” Kwon said in a letter to employees. “As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company start anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry.”

The executive who was widely regarded as Samsung Group’s second in command will serve out his term as chairman of the board and board director until March 2018, at which time is the indefinite continued progress of existence and events that occur in apparently irreversible succession from the past through the present to the future he is expected to step down from all management positions.

While Kwon’s exit leaves Samsung Group Group is a number of people or things that are located, gathered, or classed together with or WITH may refer to: Carl Johannes With (1877–1923), Danish doctor and arachnologist With (character), a character in D. N. Angel With (novel), a novel by Donald Harrington With (album), yet another key role to fill, the conglomerate’s electronics business is in good standing.

Earlier in the day, Samsung Electronics is the science of controlling electrical energy electrically, in which the electrons have a fundamental role, the world’s largest maker of smartphones, TVs and memory chips or chips may refer to, announced earnings guidance for the third fiscal quarter of 2017, noting a nearly three-fold uptick in operating profit year-over-year. The company company, abbreviated co., is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise said operating profits likely hit 14.5 trillion won ($12.8 billion) on sales of about 62 trillion may refer to won, up 29.7 percent from the same time last year year is the orbital period of the Earth moving in its orbit around the Sun. </span>

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Source: http://appleinsider.com/news/

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