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Samsung Electronics names Yoon-Woo Lee as Vice Chairman and CEO


Samsung rightly hasn't wasted much time in finding a successor for its suddenly-vacated CEO position. Yoon-Woo Lee as of today will be taking on the role of Vice Chairman and CEO of Samsung Electronics, swiping the spots from Jong-Yong Yun -- who will remain in an advisory role -- and the disgraced former CEO Lee Kun-hee, respectively. Yoon-Woo Lee is no young upstart, however. He joined Samsung SDI in 1968 and moved to Samsung Electronics in 1977. From 1996 to 2004 he was the President of Semiconductor Business and since then he's been working as Vice Chairman of Corporate CTO. Given Samsung's dominance in the Flash and DRAM memory markets, it's hard to call this a bad move, but Samsung also has appointed Hyung-Kyu Lim to work on new "growth engines" to help Samsung find new ways to make cash as its current strongholds meet stronger and stronger competition. Nice to have you back on your feet Sammy, now let's see some more of those world firsts you're so fond of.

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