Samsung CEO steps down amidst 'unprecedented crisis'
14 October, 2017, 00:40 | Author: Paula Vaughn
CEO of Samsung, which in 2016 "distinguished "exploding smartphone", Oh-Hyun Kwon on Friday, October 13, announced the resignation".
Kwon joined Samsung in 1985 as a researcher of the company's Semiconductor Research Institute in the US.
His decision to resign comes at a time when the company tries to clean up its reputation amidst bribery case.
The "crisis" alluded to in the letter has largely been read as a reference to the imprisonment of Samsung's de facto leader Lee Jae-yong on bribery and corruption charges.
Kwon will remain in his role of chief executive until a replacement can be found, and will remain as chair of the board until March 2018.
"There are no words to describe how proud I am that we built together one of the most valuable companies in the world". Semiconductors were Samsung's top earner in the three months through June, making a whopping $7.20 billion.
Iran FM briefs parliament on Trump's threat to nuclear deal Federica Mogherini, while talking to PBS TV channel, on Wednesday, highlighted Iran's full compliance with the 2015 deal. What exactly that will look like is still being determined, but it could include greater congressional oversight.
"He's been working for the position for long time, it's natural transition", Kim said.
Samsung has two other CEOs, each overseeing its mobile phone business and home appliance division.
Despite posting record revenue for the quarter, electronics giant Samsung is struggling.
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. Doh Hyun-woo, analyst at Mirae Asset Daewoo Securities Co., said in a report that the release of new models, including the iPhone X by rival Apple Inc., could weigh on Samsung's mobile sales, but will also help its smartphones parts business.
Chung Sun-sup, chief executive of research firm Chaebul.com, added that concern about lack of leadership at a time when Lee is absent from management is evident, adding that the leadership changes also could be an opportunity for a new generation to emerge. 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.
The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month. Primary goods' production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month.
Earlier, Sky reported what were regarded by City analysts as strong results for the first three months of its financial year. It also said executive pay at Sky was too complex and that bosses could receive huge payouts if the Fox deal goes through.
Rukmini Callimachi, a correspondent for the New York Times, also said two senior US officials denied that Jones was dead. In 2016, she was accused of encouraging ISIS sympathisers to launch attacks during the holy month of Ramadan.
Previous estimates for hyperloop journey times include a 338-mile route between Glasgow, Edinburgh and Liverpool in 38 minutes. Hyperloop One held its latest test run of a transport pod in a tube in late July in the Nevada desert.
This means that whatever is causing it has some sort of repetitive nature, which could help scientists uncover what is happening. Under certain conditions, the warm layer can rise to the top, which leads to the melting of ice on the surface.
Naming former President Clinton's experience as a Rhodes Scholar, Jimmy Carter's work as a nuclear engineer and George H.W. Trump on Saturday denied a frayed relationship with Tillerson but said he sometimes wishes Tillerson would be "tougher".
Hatheier said the shark was "stressed" because it was trapped between the rocks, separated from the ocean and his natural habitat. A Sydney real estate agent has been captured putting fear aside and wrangling a shark during a mid-morning dip in Cronulla.
Kuo says that Apple will do so to maintain an equal user experience for the iPhone X and iPads as well, MacRumors reports. Analysts have been claiming that a lot of people will upgrade to the iPhone X and it has been referred as a super cycle.
Ri has previously called Trump "President Evil" and his comments are likely to fuel an escalating war of words between the U.S. The drills were conducted not long after Lee broke the news about the alleged cyberattacks to reporters.
Ophelia strengthens some far out in Atlantic
Ophelia will head east-northeast over the next few days and eventually make more of a northward turn through the weekend. The high action hurricane season of 2017 continues with the development of the 10th hurricane of the season.