Samsung combines consumer electronics and mobile businesses

Samsung Electronics has announced an internal reorganization of its businesses with several leadership changes. The company will have two new CEOs who will oversee two divisions: Device Solutions, the semiconductor business, and a new SET division that includes mobile devices, televisions, and consumer electronics. It's the most significant change to Samsung's structure since 2017 when the company appointed three leaders to three separate divisions.

Jong-hee (JH) Han, Business Director of Visual Display, is now Co-CEO responsible for the SET division. Samsung credits it with leading the company to the top position in TV sales worldwide for 15 consecutive years and says he is "expected to strengthen the synergies among the different businesses in the SET Division and help drive new businesses and technologies."

The other new CEO is Kyehyun Kyung, formerly CEO of Samsung Electro-Mechanics. He has also worked on Samsung's flash memory product team and DRAM design team in the past and will now be tasked with leading Samsung's large and profitable semiconductor division.

Samsung has also appointed the North American office heads for the SET and DS divisions and a new CFO, Hark Kyu Park. The management reorganization effectively streamlines the tech giant's organizational structure into two businesses for consumer products and components, respectively.