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What simply occurred? Samsung Electronics has introduced that its co-CEO, Han Jong-Hee, has handed away. Han died from cardiac arrest this week, aged 63. His passing leaves Jun Younger-hyun, who was appointed co-CEO final week, solely in command of the corporate.
Based on native reviews, Han suffered a coronary heart assault on March 22, not lengthy after attending his daughter’s wedding ceremony at a banquet corridor. He was taken to Samsung Medical Heart in Seoul however died on Tuesday.
Born in 1962, Han graduated from Inha College with a bachelor’s diploma in digital engineering. He joined Samsung in 1988, spending a lot of his profession within the firm’s TV divisions.
Han rose to the top of Samsung’s Visible Show Enterprise in 2017 earlier than being made CEO of the newly shaped DX division – the results of a merger between the Shopper Electronics (CE) and IT & Cellular (IM) enterprise items – in 2021. Han turned CEO and Vice Chairman of Samsung Electronics in 2022.
Samsung credited Han with serving to the corporate develop into a worldwide chief within the TV market and for contributing to the corporate’s progress as an government throughout a difficult enterprise surroundings. It added that Han was central in rolling out Samsung’s LED TVs.
Jun Younger-hyun was appointed co-CEO of the corporate final week at its annual shareholders assembly. It was hosted by Han, who had apologized for the poor efficiency of Samsung inventory, which he blamed on the corporate’s failure to answer the substitute intelligence semiconductor market. He additionally warned that 2025 can be a tough yr as a result of uncertainties across the financial insurance policies of main economies, in line with Reuters.
Samsung stated in a inventory alternate submitting that Jun, who was promoted to go of Samsung’s semiconductor division in 2024, can be the only CEO of the corporate after Han’s demise.
Samsung has been falling behind a number of opponents in current instances. It has seen its market share and income dwindle within the TV, smartphones, and DRAM markets, whereas its semiconductor enterprise is falling additional behind TSMC.
Samsung is scheduled to carry a launch occasion for brand spanking new residence home equipment on Wednesday, which Han had been anticipated to attend. The corporate might announce succession plans in the course of the present.
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