Samsung Electronics CEO resigns over ‘unprecedented crisis’

Photo: AFP

Samsung Electronics chief executive Kwon Oh-hyun has resigned citing an “unprecedented crisis,” the BBC reports.

It is the latest management upheaval at the firm after the heir of the entire Samsung Group was imprisoned for corruption in August.

Mr Kwon is one of three co-chief executives of Samsung Electronics.

His resignation comes on the same day the firm forecast record quarterly profits, citing higher memory chip prices.

Mr Kwon, who also serves on the board of Samsung Electronics, said he had been thinking about his departure “for quite some time” and could “no longer put it off.”

He will remain on the board of Samsung Electronics until March 2018.

Show More
Back to top button