Samsung replaces 5 regional chiefs
[THE INVESTOR] Samsung Electronics has replaced five of its nine regional heads in a recent reshuffle of high-ranking executives, according to news reports on July 13.
Samsung runs nine regional headquarters -- North America, Europe, China, Southeast Asia, Southwest Asia, CIS, Middle East, Africa and Latin America.
Among the new regional chiefs are: Tim Baxter in North America; Kim Moon-soo in Europe; and Kwon Kye-hyeon, in China.
Baxter, who used to work for US telecom firm AT&T and Sony, has worked as Samsung Electronics America COO since 2013.
“The appointment of Tim Baxter seems to be in line with the firm’s long-time performance-based rewarding scheme and is aimed at promoting a seasoned expert based in the region,” an industry source said.
The appointment came after his predecessor Gregory Lee joined Nokia Technologies, an affiliate of Finnish tech giant Nokia in June.
North America is a key market for Samsung, making up 34 percent of the firm’s 202 trillion won (US$175.5 billion) revenue last year.
The new Europe chief worked as the marketing head of Samsung’s visual display business.
Samsung’s former Chinese chief Bae Kyung-tae stepped down from the post, reportedly taking responsibility for dropping smartphone market share. The Korean tech behemoth, which at one time topped the Chinese smartphone market saw its market share plunge from 25 percent in 2013 to 3.3 percent in the first quarter this year following stiff competition from local smartphone makers, such Xiaomi and Huawei, according to market research firm Counterpoint Research.
Lee Sang-chul, who led the strategy marketing team under Samsung’s mobile division, will serve as the Southeast Asian chief while Myung Seong-wan, who was Samsung’s German chief, will lead the tech behemoth’s Middle East office.
Declining sales in the two regions in recent years is said to be the main reason for the appointment of the new regional heads.
By Kim Young-won (email@example.com)