Samsung chief Kwon Oh-hyun steps down

13 October, 2017, 20:53 | Author: Tabitha Byrd
  • Samsung Electronics Vice Chairman Jay Y. Lee arrives at a court in Seoul South Korea

Samsung Electronics Co. said Friday its Vice Chairman and chief executive officer Kwon Oh-hyun will not extend his current tenure in office, which expires in March 2018.

Kwon, also known as Mr. Chip, was in charge of Samsung's component business.

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

Lee, who was found guilty in August of bribery, perjury and other charges relating to payments made by Samsung to ousted president Park Geun-hye's secret confidante Choi Soon-sil, is appealing his five-year sentence.

Wal-Mart shares jump after buyback announcement
Republic Services, Inc.is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The stock of Wal-Mart Stores Inc (NYSE: WMT ) earned "Underperform" rating by RBC Capital Markets on Wednesday, February 22.


Vice Chairman Kwon will be leaving Samsung after 32 years with the company.

Friday's personnel announcement came shortly after the company said it was expecting to log 14.5 trillion won ($12.8 billion) in operating profits for the July-September quarter, an all-time record and almost three times the 5.2 trillion won of the same period a year earlier.

The resignation caps a tumultuous period for the South Korean conglomerate that included the jailing of de facto leader Lee Jae-yong. "It has not been an easy decision, but I feel I can no longer put it off", Kwon said in his letter.

Samsung expects to pull in 62 trillion won ($54.9 billion) in revenue and 14.5 trillion won ($12.8 billion) in profit for the three months ending September 30, a near 300% increase in profit compared to the same period previous year. The tech giant is unable to new growth factors by observing future trends now. Sales jumped 30 per cent to 62 trillion won ($54.7 billion).

Sergio Aguero 'ready' for Man City return after Amsterdam crash
Manchester City ace Sergio Aguero admits wearing his seat belt saved him after his vehicle accident in Amsterdam last month. Messi has a new deal on the table from Barcelona worth around £500,000-a-week.


Kwon's resignation could widen a leadership vacuum at Samsung.

Samsung is expecting record profits for third quarter amid the high-flying memory chip prices.

The company has a league of executives who manage day-to-day operations, but has usually relied on the leadership and the visions of founding family members for direction. Kwon was expected to take a bigger role after the arrest of scion and heir apparent of Samsung Group, Jay Y Lee.

South Korea's largest company has been seeking to move past a bribery scandal that saw Lee thrown into jail, and to overcome a damaging recall previous year of its flagship Galaxy Note 7 smartphone over exploding batteries.

Uber files appeal against Transport for London
A man poses holding a smartphone showing the App for ride-sharing cab service Uber in London on September 22, 2017. Earlier this week, London mayor Sadiq Khan said the appeal against Transport for London "will take its course".


Recommended:

  • BMW might spin off Mini making

    BMW might spin off Mini making

    The company suspended trading in the shares on October 12 and September 29 respectively. That strategy helped propel the company to a 26 percent sales surge a year ago .
    Tottenham manager angry with Pep Guardiola comment

    Tottenham manager angry with Pep Guardiola comment

    Guardiola made the comment after being asked which teams he believes will challenge his club, Manchester City , for the Premier League title this season.
    Turkish Troops Begin Setting Up Observation Posts in Syria's Idlib

    Turkish Troops Begin Setting Up Observation Posts in Syria's Idlib

    At the weekend, reconnaissance teams entered Idlib province as part of an worldwide agreement to establish four de-escalation zones across Syria .
  • Download Pixel 2 launcher APK

    Download Pixel 2 launcher APK

    Google has started - just as OnePlus has - to unbundle many of its core apps and make them available through the Play Store . Otherwise, XDA has a separate bug free wallpaper app but you would need to be on Android Oreo to install it.
    Maria Sharapova into Tianjin Open semi-final

    Maria Sharapova into Tianjin Open semi-final

    The former world No. 1 and five-time Grand Slam victor took just over an hour to win 6-3, 6-1 in China. The Russian tennis player, with 6-3 and 6-1 sets, has risen to semifinals, leaving 2-0 victorious.
    Huawei Y6 Pro (2017) launches in Europe

    Huawei Y6 Pro (2017) launches in Europe

    On the storage front, the Honor 6C Pro ships with 32GB of inbuilt storage , which can be expanded via microSD card (up to 128GB). The Honor 6C Pro gets the same 13-megapixel primary snapper on the rear panel as 6C and an 8-megapixel selfie shooter.
  • UPCC hopes reviving after elevating Rahul as party president

    UPCC hopes reviving after elevating Rahul as party president

    The former Union minister expressed confidence that Rahul would be the "face of the country" in 2019 and become prime minister. Among many who have supported Rahul's promotion are senior leader Mani Shankar Aiyar and young leader Sachin Pilot.
    Stranger Things Season 2 Promo Hints At Eleven's Origin

    Stranger Things Season 2 Promo Hints At Eleven's Origin

    Stranger Things also stars Gaten Matarazzo , Caleb McLaughlin , Natalia Dyer , Charlie Heaton , Joe Keery and Cara Buono . The wildly successful Netflix series returns for its second season of nostalgia-tinged horror and adventure.
    Nadal crushes Fognini, Federer joins him in quarters

    Nadal crushes Fognini, Federer joins him in quarters

    But there was little fight from the 30-year-old as Nadal lost only six points on serve in the opening set. Earlier, Marin Cilic , ranked fourth, showed the exit to the American Steve Johnson 7-6 (1), 6-4.
  • Trump Questions NBC's TV License Over A News Story

    Trump Questions NBC's TV License Over A News Story

    In confirmation hearings for Ajit Pai, we raised this possibility. Licenses are issued to individual stations, not networks per se.
    Local leaders have mixed thoughts on girls participating in Boy Scouts

    Local leaders have mixed thoughts on girls participating in Boy Scouts

    Under the Boy Scouts' new plan, Cub Scout dens - the smallest unit - will be single-gender, either all-boys or all-girls. According to the Boy Scouts of America 2016 Annual Report, there were 1,262,311 boys in Cub Scouts across the country.
    Father of freed Taliban hostage: 'He wants to be home'

    Father of freed Taliban hostage: 'He wants to be home'

    The early Thursday rescue operation "by Pakistani forces, based on actionable intelligence from USA authorities was successful". A US government source in Washington also said there was no indication the family had been in Afghanistan.


Popular

Mobile puts a cap on high-speed data roaming in Canada, Mexico
This change not only affects T-Mobile ONE customers, but those locked into an older Simple Choice plan as well. After the users have exceeded 80% of the 5GB limit, they will be sent an alert message from T-Mobile.

Keuchel looks to continue success against Yankees in ALCS
Both of these pitchers would certainly have changed the WAR calculus had they been on their teams all season. As composed as Judge has been this season, there was some visible frustration in Game 5 against the Indians.

Titans receiver: Would quit over anthem rule, deletes tweet
Matthews deleted the tweet shortly after, but a screenshot had already been saved by the news producer. Earlier this month, the Seattle Seahawks and Titans stayed off the field during the anthem .

Trump says people using 'Merry Christmas' again
The annual political conference hosted by the Family Research Council brings together evangelical voters who were key to Mr. During a 2016 meeting with religious leaders , Trump said current USA leadership was "selling Christianity down the tubes".

Facebook's food delivery feature now brings Five Guys to all
If you don't have an account with that service, you can quickly and easily sign up, without leaving the Facebook app. The user can then select a "pickup" or "delivery" option, and start an order at a restaurant.

Jane Fonda on Harvey Weinstein: 'I'm ashamed that I didn't say anything'
When pressed by Amanpour, Fonda said this sort of thing also happened to her in the past-though never perpetrated by Weinstein. Fonda, 79, said that her friend and fellow actor, Rosanna Arquette , had recounted a troubling experience with Weinstein.

Samsung Galaxy J2 (2017) with 4.7-inch display launched for Rs 7390
The new Galaxy J2 (2017) edition come with 4G support, while the key highlight of the device is its Ultra Data Saving feature. Storage: Samsung Galaxy J2 (2017) comes with 8GB of internal storage, which is expandable up to 128GB via microSD card.

The Evil Within 2 Launch Trailer Is Suitably Gruesome
Called Classic, this more gruelling version of Nightmare is only available after finishing the game once. Will Sebastian face adversity head on with weapons and traps, or sneak through the shadows to survive.

Nubia Z17S Hands On and Photo Gallery
The smartphone is powered by the latest Qualcomm Snapdragon 835 octa-core processor with Adreno 540 graphics GPU. The smartphone will be available for pre-orders in China from today and official sale begins from October 19.

Plight of Rohingyas: SC stresses balance between national security & human rights
Since August 25, around 4 lakh Rohingyas have fled the country and a lot of them are living in refugee camps in Bangladesh. The apex court said that a balance has to be struck between human rights & national interests.