- Jun Young-hyun appointed co-CEO, heads memory chip business.
- Han Jin-man takes charge of the foundry division.
- Samsung seeks to regain AI chip market leadership amid rising competition.
Samsung Electronics has appointed new leaders in its semiconductor division, aiming to tackle challenges in the booming AI chip market. Jun Young-hyun, who has been overseeing the semiconductor division since May, is now the co-CEO and will take charge of the memory chip business, while Han Jin-man will lead the foundry operations.
Despite these changes, Samsung’s stock fell 2% at market open, reflecting continued investor concerns. The company is still recovering from a 40% drop in profit for its semiconductor division last quarter, largely driven by delays in AI chip production with key customers.
Leadership Reshuffle at Samsung Aims to Address AI Chip Market Struggles
Samsung’s recent leadership changes mark a bold step as the company confronts growing challenges in the semiconductor industry. Jun Young-hyun, now co-CEO, has been tasked with overseeing Samsung’s memory chip business, a key area of focus after the company saw a sharp decline in profits. Han Jin-man, a veteran in the company, will lead the foundry business, which is vital for the company’s AI chip strategy.
Samsung’s stock price has been on a downward trajectory since August, driven by investor concern over its performance in the AI chip space. The company is under pressure to catch up with rivals such as TSMC and SK Hynix, both of whom have solidified their positions as leaders in AI chip manufacturing. This restructuring is seen as a response to these growing competitive pressures.
Samsung has acknowledged the struggles in its semiconductor division, including a 40% drop in profits and setbacks in its AI chip business. With Jun now at the helm of memory chips, the company aims to regain its footing and address the supply challenges it faces. His deeper involvement in the division will allow for more focused leadership during this critical period.
The reshuffle also includes the appointment of new leadership within other key areas, such as chip factory engineering and device solutions strategy. These changes are part of a broader effort to streamline decision-making and accelerate innovation in an increasingly competitive market.
Samsung’s reshuffle reflects its commitment to regaining its position in the AI chip sector and restoring investor confidence, despite the market challenges it faces.
“I am fully aware that there are grave concerns about the future of Samsung recently,” – Chairman Jay Y. Lee, acknowledging the company’s current struggles amid leadership changes.
