The number of executives promoted in Samsung Group this year is the least since 2009 when the group carried out the reshuffle immediately after the global financial crisis. The restructuring is interpreted by industry observers as the group's de-factor Chairman Lee Jae-yong's pragmatic change in personnel was applied.
Samsung Group announced on Friday that it has promoted 294 executives for 2016. By position, there are 29 vice presidents, 68 executive directors and 197 directors.
This is the minimum scale since 2009 when the group promoted 247 executives. Its promotion list stood at 485 in 2013, 476 in 2014 and 353 in 2015, a gradual drop during the past three years. This year, the figure was even lowered due to the group's flagship subsidiaries including Samsung Electronics' weak performance.
Lee Jae-yong, vice chairman of Samsung Electronics, retained the number of employees promoted this year, as usual on the ground of stabilizing the organization. However, the reshuffle of the executive was done based on their performance.
Samsung's official said, "We carried out the restructuring solely based on management performance."
Samsung Electronics, which hasn’t seen performance turnaround this year, saw fewer employees promoted. The number of employees promoted was reduced to 135 to 165 by a drop of 30 (18 percent). Compared to 2013(227), which saw the best performance, the figure dropped by 100.