Samsung group carried out a group-wide reshuffle that reaffirmed the company's resolve to strengthen its signature managerial style: the so-called speed management, and marked the exit of an old generation.
The world's top TV maker named digital media chief Choi Gee Sung as CEO of the flagship unit of S. Korea's top conglomerate and Lee Jae Yong, the only son of former chairman Lee Kun Hee, as executive vice president. This shakeup is expected to expedite a shift in generations and help Lee Jae-yong the heir apparent to the group chairmanship - tighten his grip on the group and take a giant step toward the helm.
With the ascent of Lee Jae Yong to executive vice president, he will also serve as (COO) Chief Operating Officer), a newly created position, thereby overseeing group-wide management and major overseas deals. In other words, Choi Gee Sung will be in charge of the group's housekeeping and Lee Jae Yong will play a role as an owner.
In addition, a number of executive vice presidents in their early 50's were promoted to presidents. They include Shin Jong-kyun (age 53), head of Samsung's handset division, and Cho Soo-in (age 52), head of the firm's memory unit, and Kim Ki Nam (age 51), head of Samsung Advanced Institute of Technology.
