amsung Electronics announced on Tuesday that co-CEO Han Jong-hee had passed away due to a heart attack, leaving newly appointed CEO Jun Young-hyun in sole charge of the company. Han, 63, had led Samsung since 2022 and was responsible for its consumer electronics and mobile devices division.
Jun, who was appointed co-CEO just last week following his promotion to head Samsung's semiconductor division in 2024, will now take over as the sole CEO of the company. This transition comes as Samsung faces challenges in its semiconductor business, particularly in the global artificial intelligence (AI) chip market, where it lags behind competitors like SK Hynix and TSMC.
Han's sudden passing could have a significant impact on Samsung's strategy, particularly in its marketing and global business efforts. Having joined the company nearly 40 years ago, Han was instrumental in building Samsung’s TV business into a global powerhouse. Analysts note that his absence might also affect Samsung’s home appliance division, which faces ongoing challenges related to tariffs and trade tensions.
At the company's recent shareholder meeting, Han acknowledged that 2025 would be a difficult year and assured investors that Samsung would adapt to challenges posed by U.S. tariffs and the evolving global market. Samsung has struggled to capitalize on the booming AI market, leading to one of the worst-performing tech stocks of the past year. Han had apologized for the company's failure to respond adequately to the demands of the AI semiconductor market.
Han was scheduled to attend the launch event for new home appliances on Wednesday but was unable to attend due to his sudden passing. Samsung has not yet named a successor to Han's position, and the company is focused on navigating its current challenges, including a push into the automotive electronics sector to drive future growth.
In the wake of Han's death, attention has also turned to Samsung’s chairman, Jay Y. Lee, who is currently in China attending the China Development Forum. Lee has faced ongoing legal battles but was recently cleared of charges related to his succession of the family-owned conglomerate.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 10th of March, covering the latest developments you need to know.
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