Samsung sets up a ‘Future Business Planning Unit’ as part of its reshuffle

Samsung has established a Future Business Planning Division, which is tasked with exploring new business opportunities. This is a part of the South Korean electronics giant's annual reshuffle of its top-level executives with an aim to maintain a two-person representative system. The new unit will be led by longtime Samsung executive Jun Young-hyun, who is currently the vice chairman of Samsung SDI Co., a display unit of Samsung Group. 

“With his deep management know-how and insights obtained from his decades of work experience in various sectors, he will lead Samsung’s efforts in seeking future growth drivers that can change the industry paradigm in the next decade,” Samsung Electronics said in a statement. 

As part of its routine restructuring of top leadership, Samsung has elevated two presidents and disclosed the hiring of three executives. This reshuffling is purportedly a strategic move to address the company's performance, which fell below expectations this year. 

The South Korean company has stated that Jun is anticipated to spearhead investments and engage in mergers and acquisitions across various domains. 

“Having played a pivotal role in achieving global excellence in Samsung's memory semiconductor and battery businesses, Jun has continued to demonstrate leadership as the chair of the board after serving as CEO of Samsung SDI,” Samsung said.