Samsung elects two new co-CEOs
Samsung Electronics just announced it's switching to a multiple-CEO system, pushing up Presidents Boo-keun Yoon and JK Shin (who we just saw on stage at the Galaxy S 4 press conference) in recognition of their strong performance. Vice Chairman, Chairman of the Board of Directors and current CEO Oh-Hyun Kwon isn't leaving the position he attained last summer however, and will continue to oversee the company's component business. Meanwhile, Yoon will continue his job overseeing the consumer electronics division that makes TVs and appliances, while Shin runs the IT and mobile phone business. Letting each run their own ship seems like an odd move, however we suppose when you're raking in $8 billion+ in profits in a quarter, you can afford to try a few different things, and they're still looking up to Samsung Group chairman Lee Kun-hee. Still, there was a time when each unit operating so independently was seen as a problem.