reshuffled its managerial hierarchy yesterday, promoting Kwon Oh Hyun, head of its DRAM
operations, to vice chairman. Kwon, who successfully steered Samsung through an industry-wide price slump last quarter, will continue to head up the company's chip and LCD divisions, while working alongside Jung Yeon Joo -- the former CEO of Samsung C&T Corporation who was also promoted to vice chairman. The restoration of this "top-two" structure was one of several moves the Samsung Group made on Wednesday, including the announcement of six new presidents. Kwon's advancement, however, is certainly the most noteworthy. As the Korea Times
reports, the move has already garnered speculation among industry observers, some of whom believe that Kwon's new position signifies Samsung's equal commitment to both component and product divisions. In a statement, Samsung praised the executive for navigating its DRAM business through choppy economic waters, while crediting him for the "strengthening of Samsung's market leadership in memory products." Read more at the source links below.