Today, the press service of Samsung Electronics Co. Ltd. has announced that the company chairman, who simultaneously holds the post of deputy chairman of the board of directors, Kwon O Huyong, intends to resign. Against this background, the securities quotations of the Korean giant have gone into red. This news has only confirmed the rumors that at the moment the board is experiencing an acute shortage in a real leader, capable of giving a new impetus to the company after the CEO of Samsung Group was behind bars in the corruption case.
It is strange that yesterday the company published the forecast, according to which the previous quarter brought a record profit, which became possible due to progress in the production of memory chips. In this area, namely Samsung is a world leader. Its chairman, Kwon O Huyong, has been in charge of this division for many years, and it was under his leadership that the company managed to gain leading position on the scale of the entire world market.
The head of the Samsung Group, resigning the leadership, believes that the time has come for the company to choose a younger and more promising leader who will be able to lead the work on innovative projects capable of giving a powerful impetus to the growth of the entire industry.

Samsung Electronics Co Ltd

The analysts’ forecasts indicate that 2017 will bring Samsung Group the largest profit in recent years. However, its chairman's statement has led to the fact that, today, the company's securities quotations have gone into the red at 1.4%, in spite of the fact that before that, they consolidated to the highest level for the entire time of Samsung's existence.
According to the press service, Kwon O Huyong will continue his work as the head of the company until next March. It is still unknown who can become the head of the company.
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