giftedviz.com
giftedviz.com October 24, 2017


Samsung CEO Out Amid 'Unprecedented Crisis'

14 October 2017, 12:26 | Austin Hogan

Samsung CEO Kwon Oh-hyun

Samsung CEO Kwon Oh-hyun

In a statement, the man known as "Mr Chip" said the time had come to "start anew with new spirit and young leadership".

In an emotional letter sent to all employees, Kwon said that while announcing his retirement was the most hard thing for him to do, he believed it was the right time and in the best interest of the company, amid continuing controversy around Samsung vice-chairman Lee Jae-yong, arrested on charges of bribery.

With its de facto leader gone, Samsung is clearly struggling at an executive level - and now it has lost vice chair and chief executive Kwon Oh-hyun, generally regarded as the second-most important person at the company behind Lee Jae-yong. Kwon, a semiconductor engineer, has met with President Moon Jae-in and attended events both at home and overseas since Lee was detained in February on corruption charges.

Kwon Oh Hyun announced his retirement on October 13. "It has not been an easy decision, but I feel I can no longer put it off", said Kwon. Kwon's departure from Samsung makes way for a new management that can finish the company's delayed reshuffle of its top executives. Samsung hasn't given out information on the timing of succession, nor did it share who will take on Kwon's responsibilities when he leaves next year.

We Are Not Lucky - Antonio Conte Bemoans Chelsea's Injury Woes
And Conte says Chelsea will be without the pair against Palace tomorrow, as well as summer signing Danny Drinkwater being absent. Kyle Scott could also be called upon. "Or give an opportunity to young players like Ampadu or Scott ".


Sen. Susan Collins won't run for governor, will remain in US Senate
Leading pro-life groups had called on members of the Senate to pass the reconciliation bills that the House had already approved. The Republican senator said she made her decision based on where she could do the most for ME and the country.


US Congress tangles with Facebook, other social media firms over Russian Federation probe
Last month, Facebook agreed to hand over the ads to congressional investigators in addition to special counsel Robert Mueller. The accounts created to fund the ads and the ads themselves have now been removed, however.


Experts equally noted that the company was making record earnings right now, but this is the fruit of past decisions and investments and that the firms are not able to even get close to finding new growth engines by reading future trends right now. "We have come a long way to create a company that truly changes how people live, work and communicate with each other", Kwon said. Lee Jae-yong was widely expected to succeed his father as head of the group.

Mr Kwon would serve out his term as chairman of the board and board director until March next year, the company said.

Kwon joined the company in 1985 as a researcher of the company's Semiconductor Research Institute in the United States.

He played a major role in strengthening Samsung Electronics' position in the memory chips business across the world.



Other News

Trending Now

Owner of Breaking Bad house installs fence to combat fans' pizza throwing
In fact, the family who lives in the Breaking Bad house, as it's called, has lost track of the number of times the place has been vandalized.

India Consumer Price Inflation Steady In September
IIP growth during April-August period of this fiscal stood at 2.2 per cent, down from 5.9 per cent in the same period in 2016-17. The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month.

The Charles Schwab Corporation (SCHW) Rating Increased to Strong-Buy at BidaskClub
Value investors seek stocks with high BTMs for their portfolios. 241,443 are owned by Fil. 19,115 were reported by Epoch Inv. The Charles Schwab Corporation (NYSE:SCHW) have diverse level of ownership with Texas Instruments Incorporated (NASDAQ:TXN).

Wine Country Wildfires Blanket NorCal With 'Very Hazardous' Air
But people in the East Bay and South Bay are not completely in the clear because the toxic air is creeping all over the region. Continuing wind and wildfires today may cause residents to experience trouble breathing, coughing, headaches and chest pain.

Lavrov says Tehran abides by all commitments on Iran nuclear deal
In exchange, the U.S., China France, the United Kingdom and Germany would relax economic sanctions each country imposed on Iran. Federica Mogherini, while talking to PBS TV channel, on Wednesday, highlighted Iran's full compliance with the 2015 deal.

Linkin Park release 'Carpool Karaoke' appearance featuring Chester Bennington
Bennington is at the wheel, while fellow Linkin Park members Mike Shinoda and Joe Hahn are seated in the back of the SUV. Bennington's bandmates from Linkin Park will host a benefit in his memory October 27 at Hollywood Bowl in California.

Women not allowed to fly home after plastic surgery leaves them unrecognisable
Almost half of women in Seoul under the age of 30 are estimated to use plastic surgeries to enhance their facial features. It wasn't clear how long they remained at the airport - and if they were able to return to China as of Monday morning.

Flight 666 lands in HEL for final time
Most avoid the number 666 out of irrational fear and superstition or completely embrace it like metal group Iron Maiden. The last time the flight happened on Friday the 13th was in January. "It's only a coincidence for me".

Branson's in the 'loop: Virgin makes big bet on Hyperloop One
One of the leading hyperloop companies just got an enormous boost in the form of funding from Richard Branson's Virgin Group . In August, the Hyperloop traveled nearly the entire length of the track and reached a top speed of 192 miles per hour .

Radamel Falcao Responds To Accusations That He Negotiated Colombia Vs Peru Draw
Peruvians celebrated, realizing that they are on the brink of qualifying for the World Cup after drawing with Colombia . In comparison to the likes of Chile, Colombia and especially Argentina, Peru certainly lack pedigree and profile.