Samsung CEO resigns, claims 'unprecedented crisis'

Samsung's CEO just resigned, stating that the company is facing a 'unprecedented crisis inside out'

@anthony256
Published Thu, Oct 12 2017 10:37 PM CDT   |   Updated Tue, Nov 3 2020 11:53 AM CST

Samsung Electronics CEO and Vice Chairman, Kwon Oh-hyun, has just resigned from the company, where he will step down from his positions on the board, and as CEO of Samsung Display.

Samsung CEO resigns, claims 'unprecedented crisis' | TweakTown.com

Kwon said in a letter to employees: "It is something I had been thinking long and hard about for quite some time. It has not been an easy decision, but I feel I can no longer put it off. As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company start anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry".

The letter to Kwon's employees continued: "There are no words to describe how proud I am that we built together one of the most valuable companies in the world. We have come a long way to create a company that truly changes how people live, work and communicate with each other. But now the company needs a new leader more than ever and it is time for me to move to the next chapter of my life".

Kwon joined the company in 1985, where he eventually led the semiconductor business before he sat in the CEO chair in 2012. Last year, Kwon was named Samsung Display CEO where they have been making large leaps over the competition to become one of the gigantic innovators in the display business.

The crisis that Kwon is referring to would include the fact that the leader of the entire Samsung group, Lee Jae-yong, was arrested on corruption charges earlier this year. Kwon resigning now, right after the launches of the Galaxy S8, and just-released Galaxy Note 8, is troubling to say the last.

NEWS SOURCE:theverge.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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