Samsung vice chairman Oh-Hyun Kwon to resign today

Vice chairman of samsung company, Kwon Oh-hyun announced in a statement today that he is stepping down as the CEO of Samsung Electronics and as head of the company’s components business. This is due to the unprecedented crisis which has been looming in the company recently Kwon explainedthat th change will take place in March 2018, with Kwon leaving his posts at Samsung Electronics, the company board, and Samsung Display.

In his statement, Kwon explains that the decision is one he has been thinking “long and hard about for quite some time,” noting that it “hasn’t been an easy decision.” He goes no to say that he feels it’s the best move as Samsung is “confronted with unprecedented crisis.

“It is something I had been thinking long and hard about for quite some time. It has not been an easy decision, but I feel I can no longer put it off,” Vice Chairman Kwon said
“As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company start anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry.”

  Kwon had joined Samsung originally in 1985 and worked to lead its semiconductor business, eventually being named Samsung Display CEO last year.

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