BC Government to determine the fate of Site C dam Monday morning
Mum Claims She Was Kicked Off A Flight For Breastfeeding Her Son
North Korea threats spark S. Korean arms sales
HSBC No Longer Under Threat of US Prosecution
NHL Accepts Seattle Ownership Group Expansion Application
Head Of Samsung's Booming Semiconductor Business To Resign
14 October 2017, 12:26 | Kenneth Drake
Samsung CEO Kwon Oh-hyun
"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 said in a statement Friday.
'We are fortunately making record earnings right now, but this is the fruit of past decisions and investments.
While the latest financial results show Samsung's business units operating smoothly, that in itself may present risks for Kwon, said Park Ju-gun, who tracks corporate executives at CEO Score.
"Kwon himself might have thought over the issue for a long time", a Samsung spokesperson said, "but the notice itself was a surprise internally as well".
In its earnings preview on Friday, Samsung put its July-September operating profit at 14.5 trillion won ($12.8 billion), compared with 5.2 trillion won ($4.6 billion) a year earlier. Analysts forecast Samsung's 2017 net income almost doubled from 2016 and they expect Samsung to outdo its annual financial results for the next few years, thanks to its position as the world's largest maker of the semiconductor group known as memory chips that are used for mobile devices and computer servers. Semiconductors were Samsung's top earner in the three months through June, bringing in a record eight trillion won (S$9.6 billion).
For its bottom-line boost, the company credited the success of its Galaxy S8 smartphone, along with strong memory-chip sales. Kwon will also be leaving his posts at the company's board of directors and Samsung Display, effective on March 2018.
Samsung will lose another major executive soon.
Kwon was named CEO in 2012, and had been leading the multi-faceted electronics juggernaut since Lee's sentencing in August; he'd joined Samsung in 1985.
"I am anxious about a leadership vacuum at a time when Lee is absent from management", said Mr Chung Sun Sup, chief executive of research firm Chaebul.com, following Mr Kwon's announcement.
New Star Wars Trailer Rocks the Web (PHOTOS, VIDEOS)
The last thing we see is Rey getting tortured by Supreme Leader Snoke and her asking Kylo to "show me my place in all this". According to social media analysts Talkwalker, the trailer has prompted more than 380,000 mentions since it was released.
Former city councilor says event honors Italian-Americans
The movement to ban or replace Columbus Day has been growing on university campuses in recent decades. "We don't do that for St. Wilmington Selectman Kevin Caira, a member of the Wilmington Sons of Italy, said some people are trying to rewrite history.
Unity Government to take control of Gaza by December 01
The Fatah official stressed that President Mahmoud Abbas instructed the delegation not to return without a reconciliation deal. Fatah party lost control of Gaza to Hamas, considered a terrorist group by the West and Israel, in fighting in 2007.
Is Embiid worth the risk for the Sixers?
The Cameroonian worldwide averaged 20.2 points, 7.8 rebounds, and 2.5 blocks per game through 31 games in his rookie season. Wednesday's game will be the last preseason outing for the Sixers prior to the start of the regular season.
Patriots QB Tom Brady returns to practice Wednesday
Brady said he'll be able to play through the pain and isn't concerned about heading into Sunday's game with the 3-2 Jets . According to NBC Sports , Brady suffered the injury during the Patriots loss to the Carolina Panthers on October 1.