(Bloomberg) -- Samsung Electronics Co. is replacing the head of its semiconductor arm, appointing a longtime memory chip veteran to spearhead efforts to...
-- Samsung Electronics Co. is replacing the head of its semiconductor arm, appointing a longtime memory chip veteran to spearhead efforts to catch up with SK Hynix Inc. in the booming AI arena.Jamie Dimon Says Succession at JPMorgan Is ‘Well on the Way’Korea’s largest company named Jun Young Hyun the new leader of its most important business line. He replaces Kyung Kye-hyun, who will head up Samsung ’s Advanced Institute of Technology and the future business team.
The stock market reaction was initially muted on Tuesday. Samsung’s shares held their decline after the announcement and were down less than 1%. SK Hynix rose 1.1%.SK Hynix is the biggest supplier of memory used to develop ChatGPT-like services around the world. Its production capacity for such chips is almost fully booked through next year.
Jun’s appointment comes at an age when most Samsung executives retire, CLSA’s Rana said. “His expertise was deemed necessary to help Samsung navigate the current challenging situation,” he said. This DC woman moved from US to Belgium with her family — here's why she says it's worth the higher taxesMillion-Dollar TFSA: 1 Way to Achieve to 7-Figure Wealth
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