Samsung Electronics CEO Steps Down During 'Unprecedented Crisis'
- Kwon Oh-hyun serves with Samsung heir Jay Y. Lee on board
- Samsung is ‘in difficult situation,’ Kwon says in statement
Samsung Electronics CEO to Step Down
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Samsung Electronics Co. Vice Chairman and Chief Executive Officer Kwon Oh-hyun is stepping down after more than three decades at the company, saying that he’s making way for new leadership amid a corruption trial surrounding the de facto chief.
“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,” Kwon said in a statement Friday.