Co‑president of Samsung Han Jong-Hee has died
Samsung Electronics has announced the death of its co-president Han Jong-Hee, who passed away from a heart attack. Han, aged 63, led the digital devices division and the device experience unit.
Han Jong-Hee joined Samsung Electronics in 1988, and by 2011, he had become the head of the product research and development team in the visual display division.
Samsung's co-president has died
In 2022, he took on the role of CEO. According to CNBC, Han contributed to Samsung's global success in the television industry and played a significant role in the company's growth amidst challenging market conditions.
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Han was one of the four executive directors on Samsung's board. A week before his death, he led the annual general meeting of shareholders in Suwon, South Korea, where he addressed questions about the company's underwhelming stock market performance. Samsung has announced that Jun Young-Hyun, who was appointed as co-CEO last November, will now become the sole CEO.
Last year, Samsung made changes in the leadership of its memory and semiconductor divisions in response to increasing competition in the semiconductor industry. Jun Young-Hyun was then appointed as co-CEO.
Samsung lost 32%
The South Korean technology giant Samsung Electronics has announced that the projected operating profit for the fourth quarter of 2024 will be 6.5 trillion won (approximately 4.39 billion euros), which falls significantly short of analysts' expectations of around 7.7 trillion won.
Shares of Samsung, the most valuable company in South Korea, fell by 32% last year, significantly more than the 10% drop in the main stock index. However, the stock price rose by 0.72% following the release of preliminary results, suggesting that investors may have already anticipated the company's dimmer prospects.
